(Reuters) - Domino's Pizza, a master franchisee of U.S. group Domino's Pizza Inc, said on Thursday it would buy a further 44.3 percent stake in Domino's Iceland for 30.2 million euros (26.6 million pounds).

The deal would take the company's stake in Domino's Iceland to 95.3 percent.

The company also approved a further 20 million pound share-buyback and said that return of excess capital to shareholders would continue to be a part of its strategy.

Domino's reported in October a pick up in third-quarter sales driven by online orders and decided to increase its store count in Britain.

Domino's also said in October that its German joint venture, in which it owns a third of the stake, would buy Germany's largest independent pizza chain, Hallo Pizza, to expand its business in the country.

(Reporting by Rahul B in Bengaluru; Editing by Adrian Croft and Edmund Blair)