The London Stock Exchange Group PLC (LSE:LSEG) said today that it is launching the first tranche of a £750mln share buyback “immediately” that will be executed over the period of a year.
In its results for the first half to 30 June 2022, the stock exchange posted an adjusted pre-tax profit of £1.3bn, up from £1bn a year earlier.
It said total income grew to £3.6bn, up 24% from £2.9bn in the first half of 2021, which only included five months of earnings from its acquisition of financial analytics firm Refinitiv at the end of January 2021.
The LSE’s chief executive David Schwimmer said: “LSEG has delivered a strong first-half performance with continued revenue growth across our businesses. We are managing costs well and we continue to make progress on achievement of synergies.
“Our cash generation is allowing us to actively deploy capital across organic and inorganic investments, grow our dividend and commence a share buy-back programme, driving further value for our shareholders. We are successfully executing on our strategy, have good momentum going into the second half and our targets remain unchanged."
The company increased its interim dividend by 27% to 31.7p.