Essity Class B Shares Buyback: Weekly Update and Insights
Essity's Recent Class B Share Buyback Activity
Essity Aktiebolag (publ), a leading global hygiene and health company, has been actively managing its capital through a strategic buyback program. Between September 2 and September 6, 2024, the company repurchased a total of 270,000 of its Class B shares, reflecting its commitment to enhancing shareholder value and ensuring a robust capital structure.
Details of the Buyback Program
This share repurchase aligns with the SEK 3 billion buyback initiative that was announced recently. The program is designed to be executed until the next Annual General Meeting in 2025, adhering to the EU Market Abuse Regulation and other applicable regulations. This strategic move is not only about the numbers but also about maintaining confidence among stakeholders and affirming the company's commitment to its long-term growth.
Financing the Buyback
Essity is financing this buyback through cash flow generated from its current operations, following the payment of dividends. The management aims to make share buybacks a regular component of their capital allocation strategy, reinforcing their focus on delivering value to shareholders over time.
Transaction Highlights
During the week of September 2-6, 2024, the buyback transactions were executed through Nasdaq Stockholm by Danske Bank on behalf of Essity. The daily breakdown of repurchases reveals a consistent approach:
Daily Purchase Summary
- September 2, 2024: 54,000 shares at an average price of SEK 311.0732
- September 3, 2024: 54,000 shares at an average price of SEK 312.8748
- September 4, 2024: 54,000 shares at an average price of SEK 314.6893
- September 5, 2024: 54,000 shares at an average price of SEK 316.7973
- September 6, 2024: 54,000 shares at an average price of SEK 317.6732
The total shares repurchased during this week amounted to 270,000, with a weighted average price of SEK 314.6216, leading to a total transaction value of SEK 84,947,821.
Total Buyback Figures
As of September 6, 2024, Essity holds a total of 3,186,000 Class B treasury shares. The overall number of issued shares for the company stands at 702,342,489, which includes 60,412,986 Class A shares. This meticulous approach highlights Essity's proactive steps towards managing its equity and reinforcing its market position.
Contact Information for Inquiries
If you are seeking further information regarding this buyback program, you may reach out to Sandra Åberg, Vice President of Investor Relations, at +46 70 564 96 89 or via email at sandra.aberg@essity.com.
Frequently Asked Questions
What is the purpose of Essity's share buyback program?
The buyback program aims to enhance shareholder value and support the company's capital strategy, reflecting its strong financial position.
How is the buyback financed?
Essity finances the buyback through cash flow from its ongoing operations, ensuring it does not impact its ability to pay dividends.
What are the details of the recent share purchases?
Between September 2 and September 6, 2024, 270,000 Class B shares were repurchased at a weighted average price of SEK 314.6216.
Who manages these transactions?
All transactions are conducted on Nasdaq Stockholm by Danske Bank on behalf of Essity.
What is the total number of shares held by Essity?
As of September 6, 2024, Essity holds 3,186,000 Class B treasury shares out of a total of 702,342,489 shares issued.
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