Royal DSM has announced the repurchase of 800,000 ordinary shares, starting May 3, 2021.
Related: DSM Advanced Solar to be Acquired by Worthen Industries
The shares are to cover commitments for the final stock dividend 2020, equivalent to approximately €113 million based on the closing price of the DSM ordinary share on Euronext Amsterdam.
The total number of ordinary shares to be repurchased under this program represents approximately 0.4% of ordinary shares issued.
The share buyback will be executed within the limitations of the authority granted to the managing board by the Annual General Meeting (AGM).
DSM has signed a Discretionary Management Agreement with a bank to commence the execution of the share repurchase program on its behalf and to make trading decisions under the Agreement independently of DSM.
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