SYDNEY, March 5, 2026, 18:49 (AEDT)
Brambles Ltd (BXB.AX) scooped up another 157,166 shares Wednesday, spending A$3.9 million as part of its ongoing on-market buyback, which tops out at US$400 million. Since launching the program on Sept. 5, 2025, the company’s tally has reached about 12.9 million shares at a cost close to A$312 million. Brambles still has 123.8 million shares left to buy under the 136.7 million-share ceiling. Prices on Wednesday ranged from A$24.71 to A$25.16 per share, according to its ASX filing.
With an on-market buyback, a company steps in to purchase its own shares right off the exchange, then cancels them—so the total share count drops. Timing is key here: this is cash going straight back to shareholders, and it pushes earnings per share higher, even if operating profit is stuck in neutral.
Brambles is lining up another cash payout this quarter, declaring an interim dividend of 23.0 U.S. cents per share. Converted, that’s 32.74 Australian cents, with 20% franking attached. Shareholders on the register as of March 12 are set to get paid on April 9.
Brambles, in a notice on Thursday, reported it will cancel 157,166 shares, effective March 6. The company noted it might change, pause or call off the buyback if circumstances shift.
Brambles oversees the CHEP pallet-pooling operation, renting out reusable pallets and containers to manufacturers and retailers, then retrieving them for another round. Based in Sydney, the company spans North America, Europe, Asia-Pacific, and Latin America.
CEO Graham Chipchase described Brambles’ first-half showing as “resilient” on Feb. 19, even with “ongoing demand headwinds” weighing on some major markets. The company lowered its FY26 revenue growth forecast to between 3% and 4% at constant currency, kept its underlying profit growth guidance steady at 8% to 11%, and bumped up its free cash flow before dividends range to US$950 million–US$1.10 billion. The company flagged that its outlook remains tied to shifts in customer demand, what happens to lumber prices, supply chain factors, and currency swings. Brambles Corporate Site
Still, buybacks aren’t foolproof; if earnings slip, or if Brambles ends up buying shares on a downswing, the strategy can stumble. Any sharper drop in demand or a sudden jump in costs might push the company to pull back on repurchases and keep more cash on hand.
