FirstGroup completes £50m share buyback program

LONDON - FirstGroup plc, a leading provider of public transport services, has announced the completion of its share buyback program initiated on November 14, 2024. The company successfully repurchased 30,498,221 shares at an average price of 163.94 pence per share, amounting to a total consideration of just under £50 million.

The buyback program, which started on November 15, 2024, was part of the Group’s strategy to return value to shareholders. With the program now finalized, FirstGroup emphasized its strong financial position, highlighting a robust balance sheet and cash-generating businesses. This financial stability is expected to support ongoing investments in decarbonization initiatives, growth, and diversification of the company’s portfolio.

FirstGroup’s commitment to a progressive dividend policy remains unchanged, and the Board continues to consider the possibility of further capital returns to shareholders. The transport provider, with a revenue of £4.7 billion and approximately 30,000 employees, facilitated nearly 2 million passenger journeys daily in the fiscal year 2024.

The Group operates a substantial bus and rail network in the UK, including First Bus and First Rail. First Bus is one of the UK’s largest bus operators, while First Rail is counted among the country’s major rail operators. FirstGroup has pledged to operate a zero-emission First Bus fleet by 2035 and supports the UK Government’s goal to phase out diesel-only trains by 2040.

FirstGroup’s sustainability efforts have been recognized, with the company being named one of the world’s cleanest 200 public companies for the fifth consecutive year and achieving Industry Top-Rated status with Sustainalytics for the first time.

The completion of the share buyback program is based on a press release statement from FirstGroup plc. The company’s shares are listed on the London Stock Exchange (LON:LSEG) under the ticker LSE:FGP.L.

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