Prudential to Buy Back Over 2 Million Shares to Offset Scrip Dividend Dilution

MT Newswires Live12-16

Prudential (HKG:2378, SGX:K6S) will begin a share repurchase program covering about 2.2 million ordinary shares to neutralize dilution from shares issued under its scrip dividend scheme, according to a Monday Hong Kong bourse filing.

Hong Kong-listed shares of the insurer were up nearly 2% in Tuesday morning trade.

The buyback, capped at 31 million pounds sterling, or about HK$322.2 million, represents about 0.09% of Prudential's issued share capital and is intended to offset shares issued for the 2024 second interim dividend and the 2025 first interim dividend.

The company said the programme is expected to have a marginally positive impact on earnings per share.

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