Tesco PLC Buyback Starts: £750 Million Return Moves Ahead as War Risk Clouds Grocery Outlook
Tesco PLC snapped up 415,797 shares for cancellation on April 23, marking the grocer’s second reported buyback since rolling out its new £750 million programme. Britain’s largest supermarket chain wasted little time resuming shareholder payouts after posting its annual numbers. The average price paid was 481.00 pence per share, according to a regulatory filing. The clock’s ticking for Tesco. The retailer is under pressure to keep returning cash to shareholders, even as the UK grocery sector contends with rising fuel prices, stubborn food inflation, and a less certain profit picture tied to the Middle East conflict.