Rolls-Royce to return as much as $2 billion to shareholders in buyback, Sky News reports

Feb 22 (Reuters) – Rolls-Royce Holdings is expected to announce alongside its annual results this week that it will launch a fresh share buyback worth as much as 1.5 billion pounds ($2.02 billion) to investors, Sky News reported on Sunday.

Reuters could not immediately verify the report. Rolls-Royce did not immediately respond to a request for comment outside regular business hours.

Rolls-Royce upgraded its full-year profit guidance at the half-year stage last July, increasing the top end of its operating profit guidance by 300 million pounds to 3.2 billion pounds and its free cash flow by 200 million pounds to 3.1 billion pounds, according to its latest guidance.

Rolls-Royce had launched a 1 billion pound share buyback around this time last year, as it reported results.

($1 = 0.7417 pounds)

(Reporting by Disha Mishra in Bengaluru; Editing by Ros Russell)

Brought to you by www.srnnews.com

Click here to read the full article