Mitie Group Enhances Shareholder Value with Share Buyback

Mitie Group plc ( (GB:MTO) ) has issued an announcement.

Mitie Group plc has announced the purchase of 250,000 of its ordinary shares as part of its Share Buyback Programme. The shares were bought at prices ranging from 114.4 GBp to 116.4 GBp and will be canceled, reducing the total number of shares in issue. This move is part of Mitie’s strategy to enhance shareholder returns and maintain its market leadership position in the facilities management industry.

More about Mitie Group plc

Founded in 1987, Mitie Group plc is a leading technology-led Facilities Transformation company in the UK, employing 68,000 colleagues. It partners with around 3,000 blue-chip customers across various sectors, providing engineering, security, cleaning, and hygiene services. Mitie also offers project capabilities in building fit-outs, decarbonization, and telecoms infrastructure. It holds industry-leading ESG credentials and targets Net Zero by the end of 2025.

YTD Price Performance: 4.73%

Average Trading Volume: 2,334,530

Technical Sentiment Consensus Rating: Strong Sell

Current Market Cap: £1.42B

See more insights into MTO stock on TipRanks’ Stock Analysis page.