Royal DSM has repurchased 109,792 of its own shares in the period from August 16, 2021, through August 20, 2021, at an average price of €178.66. The consideration of this repurchase was €19.6 million.
Related: Lanxess Acquires IFF's Microbial Control Business
This is in accordance with the repurchase program announced on August 9, 2021, covering the commitments for the interim stock dividend 2021. The total number of shares repurchased under this program since August 9, 2021, to date is 190,060 shares for a total consideration of €33.7million.
Each year at the Annual General Meeting of Shareholders, DSM obtains approval for the company to repurchase its own shares. This approval is necessary as DSM regularly conducts share buy-back programs to cover its commitments to shareholders electing to receive interim and final dividends in the form of ordinary shares and to executives under the terms of their share-based compensation plans.
DSM also obtains approval to reduce the company's issued capital by cancellation of its shares up to a maximum of the number that is or will be bought by the company. On April 29, 2021, DSM announced it had canceled 6.6m ordinary shares.
Want to know everything going on in flavor & fragrance? Sign up for P&F+'s newsletter. You can also follow along on Instagram and LinkedIn.
