Termination of buy-back programme

Prime Financial Group Ltd (ASX:PFG) has announced the termination of its on-market share buy-back programme, which has been in operation since 1 October 2021. The decision to terminate the programme is driven by PFG's focus on utilizing its capital for growth initiatives, while still intending to return capital to shareholders through dividends. According to the Company's FY24 Investor Presentation, PFG's FY24 dividend has increased by +7% to 1.60 cents per share, and the Company anticipates further growth in dividends in the future.

Company's decision and future outlook

The termination of the on-market share buy-back programme aligns with our strategic focus on utilizing capital for growth initiatives. We remain committed to delivering value to our shareholders and believe that increasing dividends is a testament to our confidence in the Company's future performance. The decision reflects our dedication to driving growth and creating long-term value for our stakeholders.

Summary of announcement and outlook

Prime Financial Group Ltd (ASX:PFG) has decided to terminate its on-market share buy-back programme to prioritize capital allocation towards growth initiatives. The Company aims to continue returning capital to shareholders through dividends, with a +7% increase in FY24 dividend to 1.60 cents per share. This move underscores PFG's commitment to enhancing shareholder value and driving sustained growth. Looking ahead, PFG is focused on leveraging its capital for strategic investments and further increasing dividends, demonstrating its confidence in the Company's future prospects and commitment to delivering value to its shareholders.