Northern Star Resources Limited (ASX: NST) has announced the successful completion of its first on-market share buy-back program.
The $300 million program was executed at an average price of $11.04 per share, with a total of 27,172,098 Northern Star shares purchased.
The buy-back program aligns with Northern Star’s disciplined capital allocation priorities, which include returning cash to shareholders, investing in profitable organic growth and maintaining a strong balance sheet.
The program complements the company’s dividend policy, which targets to pay out between 20-30% of cash earnings. The Board continues to assess all forms of capital management to generate superior returns for our shareholders.
The $300 million on-market share buy-back program commenced on 15 September 2022.
Commenting on the completion of the buy-back, Northern Star Managing Director Stuart Tonkin said:
“I am pleased that we have completed our $300 million share buy-back program. The average purchase price of $11.04 per share demonstrates our disciplined approach to value creation for all our shareholders.”
