Aviva chief executive Blanc will update investors again in March next year
Aviva chief executive Amanda Blanc is ramping up the company’s share buyback programme, increasing it from £750m to £1bn.
The programme, which began in August 2021, will complete in March next year.
Blanc said: “We are increasing our share buyback to £1bn as part of our commitment to return at least £4bn to ordinary shareholders.
”We will update further on our capital return and dividend plans at our full year results in March 2022.”
Blanc is following in the footsteps of previous boss Mark Wilson, who led a share buyback programme. Wilson eventually fell into trouble over share a preference blunder.
Activist shareholder Cevian Capital wants an 800p share price. Aviva’s share price currently stands at 403p.
A decisive break above 440p would be a giant step in improving share price prospects, with the level being resistance since 2018.