JB Hi-Fi has completed its off-market share buy-back of 10.8 millions shared worth $173 million.
The share represents 9.9 per cent of shares on issue at a 14 per cent discount to the market price of $18.60 per share.
CEO Terry Smart said the buy-back is an “excellent outcome” for all shareholders.
“The Buy-Back is expected to have a positive impact on our earnings per share and return on equity. Our balance sheet remains strong with the flexibility to fund future growth opportunities,” he said.
According to the company, the shares will only be bought back from shareholders who tendered their shares at a discount of 14 per cent.