DSM announces repurchase of shares to cover stock dividend
HEERLEN, Netherlands, March 16, 2021 /PRNewswire/ -- Royal DSM, a global science-based company active in Nutrition, Health and Sustainable Living, today announces the repurchase of 800,000 ordinary shares starting 3 May 2021 to cover commitments for the final stock dividend 2020, equivalent to approximately €113 million based on the closing price of the DSM ordinary share on Euronext Amsterdam on 15 March 2021.
The share buyback will be executed within the limitations of the authority granted to the Managing Board by the Annual General Meeting (AGM). The total number of ordinary shares to be repurchased under this program represents approximately 0.4% of ordinary shares issued.
DSM has signed a Discretionary Management Agreement with a bank to commence the execution of the share repurchase program 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 Q2 2021.
DSM – Bright Science. Brighter Living.™
Royal DSM is a global, purpose-led, science-based company active in Nutrition, Health and Sustainable Living. DSM's purpose is to create brighter lives for all. DSM addresses with its products and solutions some of the world's biggest challenges while simultaneously creating economic, environmental and societal value for all its stakeholders – customers, employees, shareholders, and society at large. DSM delivers innovative solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies delivers annual net sales of about €10 billion with approximately 23,000 employees. The company was founded in 1902 and is listed on Euronext Amsterdam. More information can be found at www.dsm.com.
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For more information:
DSM Corporate Communications Gareth Mead tel. +31 (0) 45 5782420 e-mail media.contacts@dsm.com |
DSM Investor Relations Dave Huizing tel. +31 (0) 45 5782864 e-mail investor.relations@dsm.com |
Forward-looking statements
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.
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