Hub24 in $50m share buyback, profit surges 160pc
Tom RichardsonJournalist
Key Points
- Why it matters: Hub24 has 6 per cent of the $982 billion investment platform market.
- It will buy back $50 million of shares on-market.
- Hub24 declared a final dividend of 18.5¢ a share.
Investment platform business Hub24 says strong profit growth means it can fund a share buyback worth up to $50 million over the next 12 months as it aims to attract more self-directed superannuation investors and financial advisers.
The stock rallied 14 per cent to $32.
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