BP’s latest plan to buy back $2.5bn of stock this quarter has pushed forecasts for FTSE 100 firm buybacks to be on track for a record high in 2022.
FTSE 100 firms are now planning £37bn of share buybacks this year, compared to the prior record of £34.9bn in 2018, according to data from AJ Bell. AJ Bell investment director Russ Mould said BP's $2.5bn buyback was in addition to the firm's $1.6bn outlay on buybacks from the beginning of this year, pushing it to fourth place among buyback announcements from FTSE 100 members in 2022. BP is now also solidly third place on total buybacks since 2000, having issued £35.6bn total. This is only surpassed by Shell (£39.5bn) and Vodaphone (£39.1bn). Mould explained: "This buyback larges...
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