%20(3).png){kind=small}
![TFD [LOGO] (10).png](https://static.wixstatic.com/media/bea252_c1775b2fb69c4411abe5f0d27e15b130~mv2.png/v1/crop/x_150,y_143,w_1221,h_1193/fill/w_179,h_176,al_c,q_85,usm_0.66_1.00_0.01,enc_avif,quality_auto/TFD%20%5BLOGO%5D%20(10).png)
ROBINSONS ADDS ANOTHER P2 BILLION FOR ITS SHARE BUYBACK PROGRAM
- By The Financial District
- Mar 9, 2021
- 1 min read
Robinsons Retail Holdings, Inc. has approved an additional outlay of P2 billion for its share buyback program meant to improve shareholder value.
In a disclosure to the Philippine Stock Exchange, the company said its board of directors agreed to extend its initial buyback program amounting to P2 billion that was approved last March 9, 2020.
The board action was made and will be implemented in the open market through the trading facilities of the Philippine Stock Exchange.
RRHI has a strong net cash position to support the new share buyback program.
As of March 5, 2021, RRHI has repurchased 24.7 million shares from the open market for P1.5 billion.
“We are confident in the growth trajectory of Robinsons Retail as we venture into more adaptive and agile means of doing business. Our buyback program is in line with our capital allocation policy, which involves our strategies for organic growth, M&As, e-commerce, and higher dividend payouts. We also remain committed in maintaining a strong balance sheet, which provides financial resilience for the company,” said Robina Gokongwei-Pe, President and CEO of RRHI.
