In a statement to the Australian Securities Exchange (ASX) this morning, the bank said the buy-back was aimed at offsetting the value of the ordinary shares issued under the Dividend Reinvestment Plan (DRP) and Bonus Option Plan (BOP) for the 2013 Interim Ordinary Dividend.
“ANZ is committed to achieving ongoing capital efficiencies in its business,” ANZ chief financial officer Shayne Elliott said.
“We are comfortable with our current capital position and the board has decided on this occasion to neutralise the dilutive impact of the DRP and BOP through an on-market share purchase.”
A broker will be appointed to execute transactions connected with this buy-back, ANZ stated.
