Qantas Group completes $500M share buy-back
June 14, 2016 at 12:02 AM
SYDNEY, 14 June 2016: The Qantas Group today announced that it has completed the $500 million on market share buy-back announced at its half year results in February 2016.
Since 9 March 2016, Qantas has purchased 143,599,336 shares for a weighted average price of $3.4819.
Combined with the $505 million capital return and associated share consolidation completed on 6 November 2015, the number of ordinary shares on issue for Qantas Airways Limited has decreased by 12.6% since 30 June 2015. Upon cancellation of all shares purchased under the buy-back there will be 1,918,801,014 ordinary shares on issue.
In line with its financial framework, the Qantas Group has returned over $1 billion in surplus capital to shareholders in the last 12 months. A decision on future capital management initiatives will be made by the Board and announced with the Group’s full year results on 24 August 2016.