Tesco to Unveil Share Buyback Plan This Week, Sunday Times Says
Tesco Plc will announce a share buyback program this week when it reports first-half results, the Sunday Times reported.
The retailer will maintain its normal dividend along with the buyback plan, although a special payout is not thought to be on the cards, according to the report. Tesco will be disciplined in its approach to buybacks, the report cited unidentified people as saying, without providing the size of the planned buyback.
Tesco Chief Executive Ken Murphy is expected to explain how he plans to boost sales and profit after selling the company’s fast-growing Asian division for 8 billion pounds ($10.8 billion) last year, the Times said, adding that Murphy is not expected to announce any big strategic surprises.
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