09:19 AM EDT, 03/15/2024 (MT Newswires) -- Ferguson (FERG) said Friday that it has entered into a non-discretionary arrangement with Barclays (BCS) Capital unit under its $3 billion share repurchase program where Barclays will independently make trading decisions for buying back Ferguson shares.

This tranche will run from March 15 to no later than June 13 with a maximum allocation of $220 million, the company said, adding that share purchases will not exceed the total authorized limit of about 20.4 million shares.

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