DSM announces repurchase of shares to cover stock dividend
HEERLEN, Netherlands, Aug. 7, 2020 /PRNewswire/ -- Royal DSM, a global science-based company active in Nutrition, Health and Sustainable Living, today announces the repurchase of 200,000 ordinary shares to cover commitments for interim stock dividend, equivalent to approximately €25 million based on the closing price of the DSM share on Euronext Amsterdam on 6 August 2020.
The share buyback will be executed within the limitations of the authority granted to the Managing Board by the Annual General Meeting (AGM) on 8th May 2020. The total number of shares to be repurchased under this program represents approximately 0.11% of ordinary shares issued.
DSM has signed a Discretionary Management Agreement with a bank to commence the execution on its behalf and to make trading decisions under the Agreement independently of DSM.
In accordance with regulations DSM will inform the market about the progress made in the execution of this program through weekly press releases. The share repurchase program is anticipated to be completed in Q3 2020.
DSM – Bright Science. Brighter Living.™
Royal DSM is a global science-based company active in health, nutrition and materials. By connecting its unique competences in life sciences and materials sciences DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders simultaneously. DSM delivers innovative solutions that nourish, protect and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy and bio-based materials. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 25,000 employees. The company is listed on Euronext Amsterdam. More information can be found at www.dsm.com.
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This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading.