Mayfield Group (ASX:MYG) has established an on-market share buy-back facility, allowing the company to buy back up to 10% of its FPC's issued share capital over the next 12 months.

The objective of the buy-back is capital management, and it will be combined with the recently implemented dividend policy to enable the distribution of cash generated from operations to shareholders.

Shares of Mayfield Group were up 13% at 12:32 AEST.

With South Australian origins from 1936 as electrical company FR Mayfield, today’s Mayfield Group has a national value proposition in electrical and telecommunications infrastructure.