Legal & General PLC (LGEN) - Commencement of Share Buyback

[idpickering]

Legal & General Group plc ("the Company") announces that it will today commence a share buyback programme for up to a maximum consideration of £200m (the "Programme"), as announced on 12 June 2024.

The Company has entered into a non-discretionary agreement with Barclays Capital Securities Limited ("Barclays") to conduct the Programme on its behalf and to make trading decisions under the Programme independently of the Company. Shares acquired by Barclays under the agreement will be purchased by Barclays as riskless principal and subsequently cancelled. The purpose of the Programme is therefore to reduce the Company's share capital.

Any purchase of the Company's ordinary shares contemplated by this announcement will be executed in accordance with the Company's general authority to repurchase ordinary shares granted by its shareholders on 23 May 2024, the UK Market Abuse Regulation, the Companies Act 2006, and Chapter 12 of the Financial Conduct Authority's Listing Rules. The maximum number of shares to be acquired under the Programme is 597,971,439 and the Programme is expected to complete by 12 December 2024.

https://www.investegate.co.uk/announcem ... ck/8256852

Also posted on Company News here; viewtopic.php?p=668746#p668746

I hold LGEN in my HYP, and know others here do too, so this may be of interest here.

Ian.

[88V8]

There was a piece in The Times last weekend pointing out that the SP has languished over the last ten years. The buybacks and the latest tinkering reconstruction are an attempt to address that.
So long as the divi keeps flowing, I'll be happy.

V8

[idpickering]

There was a piece in The Times last weekend pointing out that the SP has languished over the last ten years. The buybacks and the latest tinkering reconstruction are an attempt to address that.
So long as the divi keeps flowing, I'll be happy.

V8

Thanks for your input. I couldn’t agree with your later comment re the div more. Which is why I bought LGEN in the first place.

Ian.

[kempiejon]

There was a piece in The Times last weekend pointing out that the SP has languished over the last ten years. The buybacks and the latest tinkering reconstruction are an attempt to address that.
So long as the divi keeps flowing, I'll be happy.

V8

Thanks for your input. I couldn’t agree with your later comment re the div more. Which is why I bought LGEN in the first place.

Ian.

I agree LGEN sp has moved in a range for 10 years. Although the dividend has been growing profit has been falling, I see dividenddata has the cover of sub one. A few warnings in my picking over the entrails in the financials and directors rushing to buy more shares in lieu of a better idea or making the most of depressed prices? Up 0.1% this morning. Of course at 9% yield with the FTSE100 on 3.6% some would say too high and a cut'll come.