Australia's Cimic to Buy Back More Shares
12 12월 2016 - 1:47PM
Dow Jones News
By Rhiannon Hoyle
SYDNEY--Cimic Group Ltd. (CIM.AU), the Australian construction
company controlled by Germany's Hochtief AG, said it will buy back
up to 10% of its shares in the year ahead.
The board of Cimic, which has already been buying back shares
this year, on Monday approved plans to continue to buy fully paid
ordinary shares over the 12 months starting Dec. 29.
The company said the initiative would "improve shareholder
returns and enhance capital efficiency." Shares in the company rose
by 1.6% to their highest level since July.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
December 11, 2016 23:32 ET (04:32 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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