The programme remains in addition to other share buybacks that may be undertaken in the future in order to offset the expected dilution from the vesting of awards under employee and agent share schemes and the issuance of ordinary shares under the scrip dividend alternative for future dividends (if offered).
Prudential PLC announced that it will commence the second tranche of its US$2 billion share buyback programme for US$ 800 million. This follows the completion of the first tranche of the programme on Nov 15 for US$700 million.
The purpose of the programme is to reduce the issued share capital of the company in order to return capital to shareholders. The directors consider the second tranche and the programme to be in the best interests of the company and of its shareholders.
