Carrefour Shares Rise After Increased Capital Return

Dow Jones02-21

By Helena Smolak

Carrefour shares rose after the company said it intends to launch a new share buyback program and raised its dividend for 2023 following a surge in full-year net profit.

At 0846 GMT shares traded 4.1% higher at EUR16.34. The stock has been continuously rising for more than a week, gaining 9.1% since Feb. 13.

The French grocer said late Tuesday that its new share buyback for 2024 amounts to 700 million euros ($754.6 million).

The company also proposed an increased ordinary dividend for 2023 of EUR0.87 a share, up from EUR0.56 in the prior year.

Write to Helena Smolak at helena.smolak@wsj.com

(END) Dow Jones Newswires

February 21, 2024 03:51 ET (08:51 GMT)

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