Técnicas Reunidas shares have risen by 8.06% following the announcement of a share buyback programme of up to €50 million. This measure aims to boost market confidence and reward shareholders.
Técnicas Reunidas shares have experienced a notable increase of 8.06% on the stock market, managing to erase the declines accumulated throughout the year. According to expansion.com, this rebound occurred after the announcement of a share buyback programme aimed at conveying confidence to investors.
Since the beginning of the year, the company had suffered a correction of nearly 30%, partly due to the tension generated by the war in Iran. However, the new buyback programme, which will start today and extend until 31 March 2027, has a maximum amount of €50 million.
The buyback aims not only to reward shareholders but also to reduce share capital, which will decrease the company's share capital. It is estimated that this programme represents approximately 2.49% of the share capital, adding to the 2.7% that the company already holds in treasury shares.
Analysts from Renta4 believe that the buyback is a positive way to reward shareholders by increasing earnings per share, although they note that its impact is limited as the amount represents around 2.4% of the company's current market capitalisation.
Furthermore, they highlight that this measure serves as a signal of confidence from the management team in the future prospects of Técnicas Reunidas and its cash generation capacity, especially after repaying loans to Sepi and restarting dividend payments.
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