Seeking Alpha

Rolls-Royce announces $1.7B share buyback

  • Rolls-Royce (RYCEY) has announced it will repurchase $1.7B shares, due to no major acquisitions being seen in the near future.
  • "As no material acquisitions are planned, and reflecting the strength of our balance sheet, we will return the proceeds of the Energy sale to our shareholders," says CEO John Rishton.
  • The company sold its industrial gas turbine business to Siemens (SIEGY) in May for £785M. The transaction should be completed this year.
  • Rolls-Royce's stock has plunged -19% this year.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs