THE WHAT? Royal DSM has repurchased 126,930 of its own shares in the period from 17 May 2021 up to and including 21 May 2021 at an average price of €148.27.
THE DETAILS The buy-back from the global science-based company, which specialises in nutrition, health and sustainable living, is in accordance with the repurchase program announced in March, which covers the commitment for the final stock dividend 2020.
The repurchase consideration was €18.8 million.
The company has repurchased a total of 465,611 since 3 May 2021, for a total consideration of €70 million.
THE WHY? According to the company, “It is necessary for DSM to undertake regular share buy-back programs to cover its commitment to shareholders wishing to receive their dividend in the form of ordinary shares, as well as to fulfill its obligations under share-based compensation plans.
“DSM obtains approval for the company to repurchase its own shares each year at the Annual General Meeting of Shareholders. Each year we also obtain 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.”