Ansell Limited
(ASX:ANN) has announced an on-market buyback of up to US$100 million over the next year.
The company says it is committed to ‘providing attractive returns to shareholders through a disciplined approach to capital management’ and that the current share price and market conditions are providing a great opportunity.
Ansell stock has shed more than ten per cent since the condom maker reported a 20 per cent rise in underlying profit.
Around 6 million shares will be bought from 15th September with the buy-back funded from existing cash reserves.
Ansell reported a full year net profit of $246.2 million for the 2015 financial year.
