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CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money. CFDs are complex financial instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

Qantas’ share price up on stock buyback and higher dividend announcement

Investors disregarded the weaker-than-expected results as the airline said it plans to buy back up 79.7 million shares in an off-market tender and announced a higher dividend pay-out.

Qantas Airways Source: Bloomberg

Australian airline Qantas Airways’ share price rose as much as 4.5% on Thursday after the group proposed an A$400 million share buyback and higher dividend pay-out as it revealed its full-year results.

This is after the group posted a 17% fall in annual net profit, down from A$1.57 billion to A$1.30 billion for the year ended June 30, driven by fuel costs and a weaker Australian dollar. The number was below analysts’ estimates of A$1.36 billion.

Qantas posted a 5% rise in revenue, at A$17.97 billion.

Investors disregarded the weaker-than-expected results as the airline said it plans to buy back up 79.7 million shares in an off-market tender, which is worth almost A$400 million at its most recent share price. It also declared a final dividend of 13 Australian cents per share for the period, up from 10 cents.

The group’s shares rose 4.5% in midday trade but cooled later to close the day’s session 1.38% higher, at A$5.86.

The airline said that it would keep its capacity flat to follow with a lacklustre Australian economy.


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