Shares in Centrica (CNA) hit a new 12-month of 151p (24 February) not long after the British Gas owner announced better-than-expected results and a £500 million share buyback.

Although the FTSE 100 company’s EBITDA (earnings before interest taxation depreciation amortisation) for the full year ending 31 December 2024 were lower than 2023, a bumper year for the company, shareholders were rewarded with a 13% increase in the full-year dividend to 4.5p per share as a sign of confidence in the business.

Centrica said its latest set of figures reflected ‘a more normalised backdrop’ with energy prices having come down from their highs at the start of the Russia-Ukraine war in 2022.

The company also announced the completion of the triennial review of its UK defined benefit pension schemes ahead of its 30 June deadline, and continued investment in the Irish power market.

The outlook for 2025 EBITDA remains unchanged consistent with its December trading statement, leading analysts to suggest a further buyback of up to £200 million in 2026.

Analysts at US investment bank Citi were upbeat about the stock, saying the FTSE 100 company showed balance sheet efficiency, earnings visibility and stability alongside clarity and growth.

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