The Momentum Metropolitan Group has announced both an increase in dividends and a share buy-back, after its interim results to 31 December 2022. The new share buy-back of R500 million comes after a R750 million buy-back in 2022. In recent decades, share buy-backs have overtaken dividends as a preferred way to return cash to shareholders. However, the Group has expressed satisfaction with its Reset and Grow strategy up to mid-2021 and the subsequent one, Reinvent and Regrow. Group finance director, Risto Ketola explained, “The high return on capital, combined with strong cash generation, has enabled us, again, to declare a strong dividend and to continue buying back our own shares at the same time.”
