Bezeq Approves 800 Million Shekel Share Buyback Plan to Enhance Capital Management

Bezeq's board has approved a share buyback program worth 800 million shekels, aiming to expand the company's capital management tools and return value to shareholders. The telecommunications group announced on Tuesday that the plan will remain valid until the end of 2029 and aligns with its multi-year strategy, contingent on sufficient cash surpluses and positive cash flow.

The buyback framework is designed to provide flexibility in managing the company's capital structure and financial resources beyond its existing dividend policy. Bezeq emphasized that this program complements its capital management efforts and shareholder returns, alongside distributing 80% of semi-annual profits as dividends and continuing investments in strategic growth initiatives. These initiatives include advanced communication infrastructure, digital services development, synergistic acquisitions, and expanding both national and international infrastructure such as submarine cable systems.

The company noted that the buyback plan is subject to approvals following assessments of its business, financial, and cash flow status, as well as market conditions and the impact on its operations. Bezeq's chairman, Tomer Rabid, stated that the plan reflects confidence in the group's financial strength and its ability to provide certainty and transparency to shareholders in the coming years. He highlighted significant free cash flow growth while maintaining a balance between shareholder rewards and investment in growth drivers.