ANZ today announced its intention to proceed with a $425 million on-market buy-back of ordinary shares commencing no earlier than 13 June 2013.
The buy-back will largely offset the value of the ordinary shares issued under the Dividend Reinvestment Plan (DRP) and Bonus Option Plan (BOP) for the 2013 Interim Ordinary Dividend.
ANZ Chief Financial Officer Shayne Elliott said: “ANZ is committed to achieving ongoing capital efficiencies in its business. We are comfortable with our current capital position and the Board has decided on this occasion to neutralise the dilutive impact of the DRP and BOP through an on-market share purchase.”
A broker will be appointed to execute transactions connected with this buy-back.