Shares in HBX Group International  (BME:HBX) rose more than 5% on Friday after the travel services company announced a €100 million share buyback programme and plans to start paying regular dividends from fiscal year 2026.

The Spanish company said both measures are subject to shareholder approval at its annual general meeting on Feb. 12. The buyback and dividend plans mark the first formal capital return initiatives announced since the company’s listing.

HBX Group said it intends to repurchase up to €100 million of its ordinary shares under the buyback programme, with the total number of shares acquired capped at 17 million, representing about 7% of its issued share capital. 

UBS Global Research analysts said the buyback equates to roughly 5% of the company’s market capitalisation.

The buyback is expected to be executed by Bank of America during fiscal years 2026 and 2027, subject to shareholder authorisation. 

HBX Group said it has entered into an irrevocable agreement with Merrill Lynch International, operating as Bank of America, which will independently conduct the purchases without influence from the company once approval is granted.

Purchases will be carried out on the Spanish Stock Exchanges’ Automated Quotation System, known as SIBE or Mercado Continuo, or other trading venues selected by Bank of America. 

The programme is scheduled to begin on Feb. 13, 2026, and may run until Sept. 30, 2027, with a minimum execution period of approximately 12 months.

Separately, HBX Group said it intends to commence regular dividends, starting with an interim dividend for fiscal year 2026. 

The company said the dividend policy will target a 20% annual payout ratio of group adjusted earnings, subject to the availability of distributable profits and reserves.