Ferguson plc Announces Continuation of Share Repurchase Program

Ferguson plc, a leading value-added distributor in North America, has announced the continuation of its share repurchase program. The company has entered into a non-discretionary arrangement with J.P. Morgan Securities LLC (JPMS) to carry out the repurchases on its behalf.

Under the program, Ferguson plc has allocated a maximum pecuniary amount of $130 million for this tranche, as part of its overall $3.0 billion share repurchase program. The company’s shareholders had previously authorized the purchase of up to 20,845,062 of its ordinary shares.

The purpose of the share repurchase program is to reduce the capital of the company. Any repurchased shares may also be used to satisfy share awards in the future. The purchases will be carried out on the New York Stock Exchange, in accordance with the company’s general authority to repurchase shares and applicable regulations.

Ferguson plc, headquartered in the U.K., operates solely in North America, with its operations managed from Newport News, Virginia. The company specializes in providing expertise, solutions, and products in various sectors, including infrastructure, plumbing, appliances, HVAC, fire, and fabrication.

The company anticipates requesting a similar general authority from shareholders at its 2023 Annual General Meeting to continue purchasing shares under the program. The aggregate number of shares acquired will not exceed the maximum authorized by shareholders.

For more information about Ferguson plc, please visit corporate.ferguson.com or follow the company on LinkedIn.

Cautionary Note Regarding Forward-Looking Statements:
This announcement contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially. Factors that could cause such differences include market trends, economic conditions, and other factors beyond the company’s control. The company undertakes no obligation to update or revise any forward-looking statements, except as required by law.

Source: [Business Wire](https://www.businesswire.com/news/home/20231008758687/en/)