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Domino’s Pizza in £10m share buyback

Thursday 23 November 2006 11:33
Stephen Hemsley

Pizza delivery giant, Domino’s Pizza has announced it will return £10m to shareholders in a share buyback scheme.

Domino’s UK and Ireland is offering to buy back 1.8m shares – out of the total 52.1m issued stock - at 555p per share. This morning, the company’s share price was up to 544.75p from 541.25p at the close of play yesterday.

Stephen Hemsley, Domino’s chief executive, who announced the capital restructuring plan in October, said: “This restructuring will enable the group to increase its distributable reserves, continue a progressive dividend policy and undertake further share buybacks.”

He added: “Domino’s Pizza is an extremely cash generative business and this is the best way of maximising shareholder value.”

View Domino’s half-year results here >>

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