SSE PLC to Initiate Share Buy-Back Following Dividend Update

SSE (GB:SSE) has released an update.

SSE PLC has announced that over 24,000 shareholders elected to receive the final dividend for the year in scrip dividend, reducing cash funding by about £225.5 million. Around 12.2 million new shares will be issued, increasing the share capital by 1.12%. Due to a higher than planned scrip dividend uptake of 35.7%, SSE intends to launch a share buy-back to maintain the scrip dividend cap, aiming to complete the process by March 2025.

For further insights into GB:SSE stock, check out TipRanks’ Stock Analysis page.