The Woolworths Group will be conducting a $1.7 Billion off-market, buy-back to return funds to shareholders.
Only Eligible shareholders in Australia and New Zealand are able to participate.
“Woolworths has a strong balance sheet, a surplus franking credit position, and sufficient capital for the growth opportunities ahead of us,” Chairman Gordon Cairns said.
“Sound capital management is a key priority for the Board of Woolworths Group”.
The process will begin Tuesday, April 16 and will close Friday, May 24.
Woolworths expects the buyback to be completed in May 2019.
Please find the announcement attached: