CSR Limited (ASX:CSR)
today announced an on-market buy-back of $150 million worth of shares.
The offer period will begin this month and extend to March 2018 and represents and return of surplus cash from the company.
Managing Director Rob Sindel says the company is committed to invest in internal growth and targeted acquisitions
The buy-back will complement CSR’s ongoing capital management and payment of dividends of between 60-80 per cent of net profit.
CSR reported a net profit of $89.8 million for the half year to the end of September 2015.