Danske Bank's Share Buyback Program: Latest Transactions Reveal Progress
Danske Bank's Share Buyback Program Overview
Danske Bank A/S has initiated a significant share buyback program, aimed at returning value to its shareholders while optimizing its capital structure. The program involves a total allocation of DKK 5.5 billion, enabling the bank to repurchase up to 70 million shares. This strategic move commenced on 5 February 2024, with a timeline extending until at least 31 January 2025.
Regulatory Framework for the Buyback
The buyback is being executed in alignment with the established regulatory environment, specifically under Regulation (EU) No. 596/2014. This regulation outlines the rules governing market transparency and shareholder protection within the European Union. Danske Bank is adhering strictly to these guidelines to ensure compliance while executing the buyback program efficiently.
Week 38 Transactions Summary
In week 38 of the buyback program, several notable transactions were recorded. Here's a look at the detailed trading activity that took place:
As of the last announcement, a total of 17,127,163 shares had been repurchased at an average price of DKK 202.3235, accumulating a gross total value of DKK 3,465,227,502. The transactions for that week included:
Transaction Breakdown
On 16/09/2024, Danske Bank repurchased 126,890 shares at DKK 205.4623, resulting in a total transaction value of DKK 26,071,111. The following day, 17/09/2024, 124,609 shares were acquired at DKK 205.8027, with a gross value of DKK 25,644,869.
Continuing the momentum, on 18/09/2024, 143,500 shares were bought at DKK 204.5183, amounting to DKK 29,348,376. The activities for the remaining days involved similar transactions, with the total for week 38 reaching an impressive 632,866 shares at an average price of DKK 205.4274 and a total value of DKK 130,007,994.
Total Shares Accumulated
By the conclusion of week 38, the total accumulated shares purchased in the ongoing buyback program have amounted to 17,760,029 shares, representing about 2.06% of Danske Bank’s share capital. This signifies a substantial effort in bolstering shareholder value and reflects the bank's proactive stance in capital management.
Future Outlook
Looking ahead, Danske Bank remains committed to this buyback initiative as part of its broader strategy to enhance shareholder returns and improve its capital position. The continuation of this program illustrates the bank's financial strength and strategic foresight in navigating market performance.
Contact Information
For further inquiries regarding the buyback program, please contact Stefan Singh Kailay, Group Press Officer, at +45 45 14 14 00.
Frequently Asked Questions
What is the main goal of the Danske Bank share buyback program?
The primary goal is to return value to shareholders while optimizing the bank's capital structure.
How much has Danske Bank allocated for the buyback program?
Danske Bank has allocated DKK 5.5 billion for the share buyback program.
What is the duration of the buyback program?
The program runs from 5 February 2024 to at least 31 January 2025.
What percentage of shares has been repurchased so far?
So far, 2.06% of Danske Bank’s share capital has been repurchased under this program.
Who can be contacted for more information about the buyback program?
For more information, you can contact Stefan Singh Kailay, Group Press Officer, at +45 45 14 14 00.
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