An application to reduce the share capital of DCC to facilitate a bumper £800 million (€923 million) pay day for shareholders will be heard by the Commercial Court in August. Last May, the Irish PLC, listed on the London Stock Exchange, announced phase one of a share buyback programme to return capital to members following the announced sale of DCC Healthcare for £1.05 billion in April. On Monday, Lyndon MacCann SC informed the court on behalf of DCC that the group, which in recent years focused on energy, technology, and healthcare, is in the process of rationalising the number of…

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