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TENCENT 2024 Total Shr Buyback Amt $112B; Total Shr Capital Falls to 10-yr New Low
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As of 31 December 2024, TENCENT (00700.HK) made a total of 129 share buybacks in the whole year, involving 307 million shares, for a total amount of $112 billion, with a daily average amount of $868 million, fulfilling its commitment made at the beginning of 2024 for a $100 billion share repurchase plan, according to TENCENT's announcement. While fulfilling the $100 billion share repurchase plan in an orderly manner, the Company also proactively chose to cancel all the repurchased shares, resulting in a significant decline in total share capital, which helped to boost EPS and enhance shareholder returns, TENCENT said. As of 31 December 2024, TENCENT's total share capital further decreased to 9.22 billion shares, the lowest level in 10 years. In addition to reflecting the Company's return to shareholders, TENCENT believed that the continued share buyback also demonstrates its long-term confidence in its own business development, emphasizing that, over the past year, there has been abundant growth momentum in growth brought about by a number of new businesses, such as Wechat Channels, Mini Program, AI foundation models and SaaS, in appreciation of the support of shareholders and users. AAStocks Financial News |
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