Moonpig Group plc (MOON.L), an online greeting card and gifting platform, Wednesday updated its capital allocation plan, ahead of a capital markets event to be held today.
The company said it plans to buy back up to 25 million pounds of shares, which is expected to start in early November this year.
Moonpig is also introducing a dividend policy that commits to maintaining dividend cover of 3 times to 4 times in the medium term. The first dividend under this policy is expected to be an interim dividend to be declared alongside the first-half fiscal 2025 results. The company plans to pay a total dividend of 10 million pounds in fiscal 2025.
For fiscal 2025, Moonpig continues to expect revenue growth, after adjusting for temporarily higher breakage on experience vouchers in fiscal 2024, at a mid-to-high single digit percentage rate.
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