Prudential plc (PUK), a provider of life and health insurance and asset management, on Monday said it will commence a share repurchase programme of about 2.2 million ordinary shares of 5 pence each to offset dilution from shares issued under its scrip dividend alternative.
The buyback is intended to neutralize dilution related to the 2024 second interim dividend and the 2025 first interim dividend of 16.29 US cents and 7.71 US cents per share, respectively.
The company has entered into an arrangement with Merrill Lynch International (MLI), acting as riskless principal, to conduct the repurchases on its behalf. The programme will run from December 15, 2025, and is expected to be completed no later than December 19, 2025.
The maximum amount allocated to the programme is GBP 31 million, excluding fees and expenses. Prudential said the buyback will run concurrently with the $500 million third and final tranche of Prudential's previously announced $2 billion share repurchase programme, which is also being executed by MLI.
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