June 26 (Reuters) - Fletcher Building Ltd FBU.NZ :
* CONSIDERS INCREMENTAL CAPITAL IS AVAILABLE TO BE DISTRIBUTED TO SHAREHOLDERS THROUGH AN ON-MARKET SHARE BUYBACK OF UP TO NZ$300M
* BUYBACK IS EXPECTED TO COMMENCE FOLLOWING THE FY19 RESULTS RELEASE
* SEES FY19 EBIT (BEFORE SIGNIFICANT ITEMS) OF NZ$620M - NZ$650M
* TARGETS TO ACHIEVE MODEST PROFIT GROWTH IN FY20 IN AUSTRALIA DESPITE ONGOING EXPECTED CONTRACTION IN RESIDENTIAL MARKET
* CONTINUES TO TARGET 7% EBIT MARGIN IN MEDIUM TERM