The 2022 Qantas share buy-back of up to $400m was announced 25/8/22 and commenced 12/9/22.
The plan should cancel around 100m shares, a very small proportion of the 1.9b on issue.
Share buybacks benefit the shareholder by increasing their ownership stake and unlike dividends which also benefit shareholders, a buyback is considerably more lucrative for execs who are often compensated with share options.
The results announcement which included the buy-back resulted in a considerable jump in the share price, and while for most of this year QAN had been loosely tracking the broader US market & the AUD, it seems to have diverged for now.
The buyback is 16 days in and this table shows the progress so far:
The actual rate of progress will gain clarity as time goes on, but this is the current projection:
2022 Buy-Back tracker
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Last
$7.00 |
Change
0.030(0.43%) |
Mkt cap ! $10.94B | |||
| Open | High | Low | Value | Volume |
| $6.93 | $7.01 | $6.93 | $28.80M | 4.124M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 43822 | $6.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.00 | 16350 | 3 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| QAN (ASX) Chart |