Sydney (Australia), Dec 14 (EFE) .- The board of directors of CIMIC, the Australian subsidiary of the Spanish company ACS, approved the repurchase of up to 10 percent of its common shares in the market for a period of 12 months, reported this Monday the company.
The repurchase will begin on December 29, CIMIC announced in a statement, stating that the final number of shares and the time of purchase will depend on market conditions and the price of the securities.
The approval of this buyback proposal serves to continue the current program, which was announced on December 13, 2019 and ends on December 28.
The company ensures that the plan, which does not require shareholder approval, aims to increase dividends and capital efficiency, maintain flexibility in its accounts and expand growth opportunities and business opportunities. EFE
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