Fletcher buyback timing likely to boost exec bonuses

Chief executive Ross Taylor took a pay cut last year during covid but could be in for an incentive bonus this year.

Wed, 16 Jun 2021

Fletcher Building’s $300 million share buyback programme appears timed to boost the firm’s share price ahead of its balance date, which would help its executives earn incentive bonuses.Last week, the construction firm began the programme, purchasing 800,000 shares on the NZX and ASX for approximately $7.85 each – returning $6.4m to shareholders.The buyback was announced in the last week of May alongside a virtual investor day a month before the company’s full year balance date, June 30.This is similar to the timing of Fl...

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