JM | Nov 30, 2021

JMMB Group Board approves shares buy back for next year

/ Our Today


Transactions to be done on the open market

JMMB Group’s head offices in Kingston, Jamaica. (Photo:

The Board of Directors of regional financial conglomerate, JMMB Group, has approved a shares buyback programme, which is to commence next year. 

The decision was taken at board meeting last Thursday (November 25) when the directors approved the recommendation made by the management team to execute an open market share buyback programme.

The company has advised that this exercise is to commence in the 2022-23 financial year, which begins on April 1, 2022.

Shares buybacks refer to the repurchasing of shares of stock by the company that issued them. 


A buyback occurs when the issuing company pays shareholders the market value per share and re-absorbs that portion of its ownership that was previously distributed among public and private investors.

With share buybacks, the company can purchase the stock on the open market or from its shareholders directly. 

In recent decades, share buybacks have overtaken dividends as a preferred way to return cash to shareholders. 

Though smaller companies may choose to exercise buybacks, blue-chip companies are much more likely to do so because of the cost involved.


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