Mitie Launches £50M Share Buyback, Reinstates Dividend

By Dawood Fakhir (June 10, 2022, 6:10 PM BST) -- Outsourcing and energy services company Mitie Group PLC plans to buy back £50 million ($62 million) worth of its shares and reinstate its final dividend, as it reported robust financial results for the latest fiscal year with a record £4 billion in revenues.

Mitie also agreed to acquire a solar power solutions company Custom Solar Ltd. on Thursday, when it reported its financial performance for the fiscal year ending March 31.

The group said it will carry out the share buyback program in two tranches of £25 million, starting June 9, adding that investment bank Jefferies International Ltd. will lead the...

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