Industrial Engineering (2750)

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Rotork starts £50m share buyback

By Frank Prenesti

Date: Wednesday 18 Aug 2021

LONDON (ShareCast) - (Sharecast News) - Industrial valve maker Rotork on Wednesday said it was buying back up to £50m of its shares.
The company said the first tranche of the buyback - up to £20m - would start on Thursday and end no later than September 30.

"Consistent with our capital allocation policy, the board has decided to return a prudent level of cash to shareholders while retaining a strong balance sheet," the company said in a statement, adding that its strong cash position "provides us with considerable financial flexibility".



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