Standard Chartered Bank has announced a share buy-back program to enhance its shareholder value. The company plans to repurchase up to $1.5 billion worth of its shares over the next 12 months. The buy-back program is intended to offset the dilution of earnings per share due to the issuance of shares under its employee share-based incentive plans.
The decision to launch the buy-back program is part of the bank’s strategy to reward its shareholders and demonstrate its commitment to creating long-term value. The bank has a strong track record of generating profits and has reduced its debt levels significantly over the past few years.
Analysts at TipRanks, a financial intelligence platform, have given a “Strong Buy” recommendation to Standard Chartered shares, citing the bank’s strong financial performance and prospects for future growth. They believe that the share buy-back program will help to drive up the stock’s value and provide a significant return on investment for shareholders.
Overall, the buy-back program is seen as a positive development for Standard Chartered shareholders, who stand to benefit from the increased share value and potential dividend yield.