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Inchcape ( (GB:INCH) ) has provided an update.
Inchcape plc, a leading player in the global automotive distribution and retail sector, is actively engaging in its share buyback program. On January 7, 2025, the company purchased 42,637 of its ordinary shares at a weighted average price of 763.14 pence per share, aiming to cancel these shares and reduce its overall share count. This move is part of a broader buyback initiative that began in August 2024, with Inchcape having bought back 18,873,162 shares at a total cost of £148,199,833.30. The ongoing buyback strategy is intended to enhance shareholder value by reducing the number of shares in circulation, potentially increasing the value of remaining shares and indicating the company’s strong cash position.
More about Inchcape
YTD Price Performance: -0.84%
Average Trading Volume: 747,464
Technical Sentiment Consensus Rating: Sell
Current Market Cap: £3.01B
For detailed information about INCH stock, go to TipRanks’ Stock Analysis page.
