DGAP-Ad-hoc: BASF SE / Keyword (s): Share buyback
04-Jan-2022 / 12:57 CET / CEST
BASF decides on a share buyback program with a volume of up to € 3 billion
– Own shares to be bought back from January 2022 to the end of 2023
– Repurchased shares to be canceled, reducing the share capital accordingly
Ludwigshafen – January 4, 2022 – In view of the positive development of business and divestitures in 2021, the BASF SE Board of Directors has today decided on a share buyback program. The program, for a maximum amount of 3 billion euros, will begin in January 2022 and end no later than December 31, 2023, subject to a renewed authorization to buy back own shares by the General Meeting of BASF SE shareholders on April 29, 2022. BASF SE will cancel all repurchased shares and reduce the share capital accordingly.
The share buyback program is based on the authorization of the Annual General Meeting of Shareholders of BASF SE of May 12, 2017 authorizing the Board of Directors to purchase up to 10 percent of the shares issued at the time of the resolution. (10 percent of the company’s share capital) until May 11, 2022. BASF intends to propose to the 2022 Annual General Meeting a renewed authorization to buy back own shares. The purchase will be executed on the electronic trading platform of the Frankfurt Stock Exchange (Xetra) and will be made using the safe harbor exemption for buyback programs in Article 5 of the EU Regulation on market abuse (MAR).
BASF remains attached to its progressive dividend policy. Share buybacks are another tool that BASF will use in addition to creating value for its shareholders. Thanks to the share buyback, available capital will be returned to shareholders, the company’s capital structure optimized and earnings per share increased. BASF will continue to prioritize organic growth in its use of capital, while acquisitions are currently less relevant to the company.
Based on the strength of its balance sheet and the company’s ability to consistently generate high free cash flow, BASF continues to strive to maintain a strong A rating. BASF currently has a rating of A / A- 1 / stable outlook from Standard & Poor’s and A3 / P-2 / stable outlook from Moody’s. Fitch currently gives BASF a rating of A / F1 / outlook stable.
From 1999 to 2008, BASF repurchased shares for approximately 9.9 billion euros and reduced the number of outstanding shares by approximately 29 percent in total.
04-Jan-2022 CET / CEST DGAP’s distribution services include regulatory announcements, financial / corporate news and press releases.
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|EQS News ID:||1264727|
|End of the announcement||DGAP Information Service|
1264727 04-Jan-2022 CET / CEST
BASF SE Technical Analysis Trends
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Evolution of the income statement
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