Qantas has completed its latest $500 million share buy-back

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Qantas has completed a $500 million on market share buy-back, bringing it to more than $1 billion in capital returned to shareholders in the last year.

The national airline says it purchased 143,599,336 shares for a weighted average price of $3.4819. Qantas shares are trading at $2.875, down 4% today.

Combined with a $505 million capital return in November and associated share consolidation, the number of shares on issue has decreased by 12.6% since June last year.

Qantas says a decision on future capital management will be announced with the full year results on August 24.

The airline hasn’t made a dividend payment to shareholders since 2009.

The latest $500 million on-market share buyback was announced in February along with a 239% increase in half year profit to $688 million, further building on Australia’s biggest corporate turnaround.

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