Tesco, Britain’s largest supermarket chain, announced on Monday that it will continue its share buyback program, with plans to repurchase shares worth up to £400 million ($515 million). The new tranche follows the completion of a previous buyback phase that saw £350 million worth of shares repurchased, ending last Friday.
In April, Tesco had already committed to buying back an additional £1 billion in shares over the coming year. The move is part of Tesco’s strategy to return value to shareholders and manage its capital effectively. The supermarket giant’s ongoing buyback program underscores its strong financial position and confidence in its business outlook.