Moonpig Group PLC (LSE:MOON) has declared a debut share buyback programme that will see £25 million returned to shareholders starting in November.
Although the online cards and gifts group said it “will always prioritise growth investment in the business”, it stated that its strong balance sheet has provided “the financial flexibility to consistently return incremental excess capital to shareholders”.
The group generated operating cash inflows of £74.2 million in the year to 30 April.
Moonpig also announced a £10 million dividend policy for the 2025 financial year, which will grow in line with the business’s adjusted earnings per share.
Ahead of today’s capital markets day, Moonpig also reiterated its revenue growth targets of mid-to-high single-digit growth for financial 2025 and medium-term double-digit growth.
Moonpig is targeting an adjusted EBITDA margin rate of approximately 25% to 26%.