dsm-firmenich Advances Share Repurchase Strategy to Enhance Value
Progress Update on dsm-firmenich's Share Repurchase Program
dsm-firmenich, a leading name in nutrition, health, and beauty, has made significant strides in its ongoing share repurchase program aimed at enhancing shareholder value. Announced recently, the company's ambitious plan includes a total budget of €1 billion, with an initial segment of €500 million designated for immediate execution.
Key Features of the Share Repurchase Plan
Initiated on April 1, the share repurchase program includes €580 million allocated specifically for buying back ordinary shares. This initiative is partially designed to fulfill commitments related to the Group's employee share-based compensation plans. The remaining budget aims at systematically reducing dsm-firmenich’s issued capital, reinforcing the commitment to shareholder returns.
Recent Activity and Share Buybacks
As of June 9 to June 13, a total of 323,140 shares were repurchased, reflecting the company's commitment to uphold market expectations. The average buyback price during this period was €97.26 per share, culminating in a total spend of approximately €31.4 million. Cumulatively, the share repurchase program has resulted in the repurchase of 2,709,876 shares at an average price of €94.77, amounting to a total expenditure of €256.8 million.
Future Plans for Repurchases
Looking ahead, dsm-firmenich anticipates completing the current program within a six-month timeframe from the start. Following this phase, the company intends to pursue an additional €500 million repurchase program, contingent upon the successful finalization of the previous stake sale in the Feed Enzymes Alliance.
Commitment to Transparency
Transparency is central to dsm-firmenich's operations. Regular updates on the progress of the share repurchase program will be made available to maintain market confidence. This approach aligns with the firm's strategy and commitment to providing clear information to stakeholders.
About dsm-firmenich
Founded on innovation, dsm-firmenich focuses on creating essential nutrients, appealing flavors, and fragrances to support a thriving global population. With operations in nearly 60 countries and generating revenues exceeding €12 billion, the company exemplifies its dedication to sustainability and improvement in daily life.
Contact Information
For further inquiries, please reach out to:
dsm-firmenich Investor Relations:
Email: investors@dsm-firmenich.com
dsm-firmenich Media Inquiries:
Email: media@dsm-firmenich.com
Frequently Asked Questions
What is the primary goal of the share repurchase program?
The share repurchase program aims to enhance shareholder value by reducing issued capital and fulfilling employee compensation commitments.
How much has dsm-firmenich allocated for the repurchase?
dsm-firmenich has allocated a total of €1 billion for the share repurchase program, with an initial €500 million available for immediate use.
What was the average purchase price during the recent buyback?
The average purchase price during the buyback period from June 9 to June 13 was €97.26 per share.
What is the total number of shares repurchased so far?
To date, dsm-firmenich has repurchased 2,709,876 shares under the current program.
What are the future plans regarding share repurchases?
After the current program is completed, dsm-firmenich plans to initiate an additional €500 million repurchase program, subject to certain conditions being met.
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