PERTH (miningweekly.com) – ASX-listed Whitehaven Coal has completed its initial 10% on-market share buy-back.
The buy-back, which started in March this year, saw Whitehaven fork out A$587.9-million for 103.3-million shares, at an average price of A$5.69 a share.
The A$587.9-million of capital returned through the share buy-back together with A$449-million of dividends paid to shareholders in the 2022 financial year, represented a total of A$1.04-billion of capital returned to shareholders, the miner said on Friday.
At its annual general meeting, Whitehaven will be seeking shareholder approval to extend the share buy-back programme through an on-market buy-back and an off-market tender buy-back. If shareholder approval is granted on October 26, the board will be authorised to acquire up to a further 240-million shares in aggregate, amounting to approximately 25% of issued shares, over a 12-month period.