Santos Energy Limited (ASX: STO) announced a further US$350 million increase in the on-market share buyback program. This amount is in addition to the US$350 million announced in August 2022, which is approx. 98% complete, and it takes the total on-market share buyback amount announced for the 2022 year to US$700 million. The further on-market buyback is projected to start this month.
The company also announced a simplified capital management framework that includes a policy of at least 40% payout of free cash flow from operations generated per annum and an unchanged target gearing range of 15% to 25%.
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