Sri Lanka’s JKH to return Rs11bn to shareholders
ECONOMYNEXT – Sri Lanka’s John Keells Holdings said it would return 11.1 billion rupees to shareholders buying back shares at 160 rupees each.
The firm said it would buy back 69.376 million shares at a rate of one share for every 20 existing units of stock.
JKH said its stock "is not reflective of the value of the company" and growth prospects.
The firm said it had cash reserves which was more than enough to fund the company’s planned investments and dividends. (Colombo/Nov12/2018)