Singtel launches $2b share buyback programme
This is the group’s first share buyback programme.
Singtel launched its first share buyback programme of up to $2b, as part of the group’s active capital management strategy to drive sustained growth and value for shareholders.
The funding for the share buybacks will be underpinned by excess capital from the group’s asset recycling proceeds.
In May 2024, Singtel set a mid-term asset recycling target of $6b under its Singtel28 growth plan, which it is now raising to $9b.
The value realisation share buyback programme is the latest capital management initiative undertaken by Singtel, following a change in dividend policy in May 2024 to include a value realisation dividend in addition to a core dividend. The value realisation dividend was introduced to return excess capital to shareholders.
The Group’s value realisation share buyback programme will be administered in accordance with Singtel’s Share Purchase Mandate, which allows the purchase of up to 5% of its total issued shares, excluding treasury shares and subsidiary holdings, and is subject to shareholder approval at each annual general meeting.
The news comes after the group recently reported a fivefold net profit increase in FY2025.