Norsk Hydro's 2024-2025 Share Buyback Program Updates
Norsk Hydro's Share Buyback Program Overview
Norsk Hydro ASA has taken significant steps in its financial strategy with the recent updates regarding its share buyback program for 2024-2025. The company finalized the open market repurchase as part of this program, ensuring that its strategies align with shareholder interests.
Details of the Share Buyback Program
The share buyback initiative consists of a total of 30,526,862 shares, a substantial portion of which has already been repurchased. Specifically, 20,067,969 shares were acquired directly from the market. In addition, the company plans to procure the remaining 10,458,893 shares from the Ministry of Trade, Industry and Fisheries, maintaining the Norwegian state's ownership stake in Norsk Hydro ASA, which stands at 34.26%.
Transaction Insights
Following the buyback, all shares that have been repurchased are expected to be cancelled pending approval at the upcoming Annual General Meeting set for May 2025. It’s noteworthy that the shares bought in the open market immediately impact cash flow, while the shares from the state will be compensated during a capital reduction process expected in mid-2025.
Financial Data and Performance
The weighted average purchase price for the shares acquired thus far stands at NOK 65.52. As part of the ongoing program, the following transactions detail the shares repurchased:
Recent Transaction Summary
The table below illustrates an overview of the latest transactions completed under the buyback program:
- Date: 03/01/2025 - 575,000 shares purchased at NOK 62.92 with a total transaction value of NOK 36,179,288.
- Date: 06/01/2025 - 360,882 shares purchased at NOK 63.00 with a total value of NOK 22,736,252.
- Date: 07/01/2025 - 813,202 shares purchased at NOK 63.17 resulting in a total value of NOK 51,372,735.
- Previous transactions total 18,218,885 shares at an average price of NOK 65.76, leading to a total value of NOK 1,198,140,782.
- Accumulated total from the buyback now stands at 20,067,969 shares, averaging NOK 65.52, totaling NOK 1,314,799,957.
Stock Ownership Post-Transaction
Before the initiation of this share buyback program, Norsk Hydro ASA held 14,082,505 of its own shares. With the completion of these transactions, the total number of shares held has increased to 34,150,474, equating to approximately 1.70% of the company’s share capital.
Investor Relations Contact
Norsk Hydro recognizes the importance of transparency in its dealings. For any investor inquiries, Martine Rambøl Hagen, the Head of Investor Relations, can be contacted via phone or email:
Martine Rambøl Hagen
Head of Investor Relations
+47 91708918
Martine.Rambol.Hagen@hydro.com
Frequently Asked Questions
What is the purpose of Norsk Hydro's share buyback program?
The share buyback program aims to enhance shareholder value and manage capital effectively.
How many shares does Norsk Hydro plan to repurchase in total?
Norsk Hydro plans to repurchase a total of 30,526,862 shares in this buyback program.
What is the weighted average price of the shares repurchased?
The weighted average price for the shares repurchased is NOK 65.52.
What impact will the buyback program have on ownership percentages?
Following the buyback, the Norwegian state’s ownership interest will remain unchanged at 34.26% after the acquisition of shares from them.
Who can investors contact for more information?
Investors can reach out to Martine Rambøl Hagen for inquiries related to the share buyback program.
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