DCC buys back €24.3m in stock

Marketing and distribution group DCC has spent €24.3 million buying its own shares in the market

Marketing and distribution group DCC has spent €24.3 million buying its own shares in the market. The move is aimed at enhancing the group's earnings per share and further forays into the market have not been ruled out. The group said yesterday that the buy-back programme will have "a minimal impact on DCC's financial capacity and is intended to complement rather that substitute for the group's significant capital spending and acquisition programme". A total of 200,000 shares were bought at €9.45 and 2,363,045 at €9.50. The shares closed down 20 cents at €9.50.