Aviva makes plans to buy back £600m shares

Excess capital of £2bn

Aviva has decided to buy back £600m worth of its own shares as part of its plans to deploy £2bn of excess capital throughout 2018.

In the group's full results for 2017, it announced it has significant excess capital and has since announced plans to deploy £2bn of this. This will include £900m for debt reduction, £500m for bolt-on acquisitions and a £600m ordinary share buy-back. The dividend yield on Aviva shares is currently 5.2%, which the board believes is a compelling use of the firm's excess capital as this is expected to grow further. An agreement has already been entered between Aviva and Citigroup Global Markets to conduct the share buy-back programme, with Citigroup responsible for making trading deci...