Robinsons Retail Holdings said Monday it has so far bought back P1.5 billion worth of shares under a buyback program.
The board of RRHI aproved a P2 billion buyback in February, which was extended by another P2 billion this month, both with the aim to improve shareholder value. The Gokongwei-led retailed repurchased 24.7 million shares as of March 5.
"We are confident in the growth trajectory of Robinsons Retail as we venture into more adaptive and agile means of doing business. Our buyback program is in line with our capital allocation policy, which involves our strategies for organic growth, M&As, e-commerce, and higher dividend payouts," said Robinsons Retail President and CEO Robina Gokongwei-Pe.
"We also remain committed in maintaining a strong balance sheet, which provides financial resilience for the company,” she said.
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