UK grocer Morrisons has revealed its latest share repurchase.

The retailer has purchased 500,000 ordinary shares at an average price of 295.35 pence per share, it said yesterday (21 June).

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Following the purchase, the company will have 2.61bn shares in issue. Morrisons holds no ordinary shares in Treasury.

Morrisons announced plans in March to buy-back some GBP1bn in shares over the next two years and increase its dividend by a double-digit percentage over the next three years.

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