Shares in Amcor Limited (ASX:AMC) lifted almost 3 per cent yesterday after posting an interim profit and revealing a $US500 million buyback scheme.
The packaging giant increased its net profit by 6.7 per cent to $US321.2 million in the first half of the 2015 financial year.
CEO Ken MacKenzie says the result represents another period of higher profits and returns marked by good growth in emerging markets and benefits from acquisitions.
Mr MacKenzie believes the share buyback will achieve balance between returning capital to shareholders, maintaining flexibility to pursue growth and retaining strong credit metrics.
Amcor has boosted its interim payout to an unfranked dividend of $US0.19 per share.
