ING Expands Its Share Buyback Programme
ING has made notable strides in its €2.5 billion share buyback programme, which aims to boost shareholder value by reducing the number of outstanding shares. The latest report indicates that the company repurchased over 3 million shares in the week leading up to the end of August 2024. This effort demonstrates ING's commitment to returning capital to its shareholders.
Details of the Recent Share Repurchase
During the week from 26 August 2024 to 30 August 2024, ING repurchased a total of 3,268,026 shares at an average price of €16.21 per share. This amounted to an impressive total of approximately €52.96 million spent on share repurchases. This initiative is part of ING's broader strategy to maintain financial strength and to manage its share capital effectively.
Overall Progress of the Programme
As part of the ongoing buyback programme, ING has now repurchased a cumulative total of 127,404,863 ordinary shares. These shares were acquired at an average price of €15.91, totaling around €2.03 billion to date. Thus far, approximately 81.07% of the maximum planned value for this share buyback programme has been executed, showcasing the company’s proactive approach in managing its capital structure.
ING’s Commitment to Shareholders
ING's share buyback programme is designed not only to improve shareholder returns but also to reflect the company's robust financial performance. With over 60,000 employees dedicated to providing excellent retail and wholesale banking services globally, ING aims to empower both individuals and businesses to stay ahead in their financial journeys.
Profile of ING Group
ING Group is a renowned global financial institution based in Europe. The company operates through ING Bank and is committed to sustainability, integrating responsible practices into all areas of its business. In the recent ESG assessments, ING received an 'AA' rating from MSCI, highlighting its commitment to environmental, social, and governance principles.
Contact Information for Enquiries
For further information regarding press or investor enquiries, individuals can reach out to the following contacts:
- Press Enquiries: Christoph Linke - +31 20 576 5000
- Email: Christoph.Linke@ing.com
- Investor Relations: ING Group Investor Relations - +31 20 576 6396
- Email: Investor.Relations@ing.com
Frequently Asked Questions
What is the purpose of ING's share buyback programme?
The primary aim of the programme is to return capital to shareholders by reducing the total number of outstanding shares, thereby enhancing shareholder value.
How many shares has ING repurchased to date?
As of the latest report, ING has repurchased a total of 127,404,863 ordinary shares under its buyback programme.
What was the average price of shares repurchased recently?
Recently, ING repurchased shares at an average price of €16.21, amounting to a total of approximately €52.96 million during that week.
Who can I contact for more information about ING?
For press enquiries, you can contact Christoph Linke at +31 20 576 5000, or for investor-related questions, reach out to ING Group Investor Relations at +31 20 576 6396.
How does ING ensure its commitment to sustainability?
ING places significant emphasis on sustainability by integrating ESG principles into its operations and has received high ratings from various benchmarks to validate its efforts.
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