Sumitomo Mitsui Financial Group (SMFG) announced on December 3, 2024, the successful completion of a share repurchase program. The company repurchased 10,921,000 shares of its common stock through market purchases.
The total value of the shares repurchased amounted to approximately JPY 39.73 billion. This buyback activity took place between November 15 and November 30, 2024, as part of the company's ongoing capital management strategy.
This strategic move aims to enhance shareholder value and optimize the company’s capital structure. The reduction in outstanding shares can lead to an increase in earnings per share, which is a positive development for investors.
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