German incumbent Deutsche Telekom has announced it concluded its E400m share buyback program, part of the company’s shareholder remuneration policy.
About 40 million shares, with a proportionate share in the capital stock worth about E102.4m, were bought…
German incumbent Deutsche Telekom has announced it concluded its E400m share buyback program, part of the company’s shareholder remuneration policy.
About 40 million shares, with a proportionate share in the capital stock worth about E102.4m, were bought back on the stock exchange. This represents 0.9% of the company’s capital stock. The average buy-back price was E9.9998.
“By taking this step, the Board of Management is further pursuing its shareholder remuneration strategy that was announced on February 25, 2010. The company plans to pay around EUR 3.4 billion to its shareholders for each financial year from 2010 to 2012,” the company said in July when the programme was approved by the board of management.
“The plan (…) is for a dividend of at least EUR 0.70 per dividend-bearing share to be paid for each financial year from 2010 to 2012 and the remaining amount of up to EUR 400 million per year to be paid to shareholders in the form of share buy-backs,” it added.
