AABENRAA, Denmark - Sydbank A/S (CPH:SYDB) has reported further transactions as part of its ongoing share buyback program, initially announced on February 28, 2024. The Danish bank, headquartered in Aabenraa, has been executing the buyback in accordance with the EU's Safe Harbour regulations.
During the 52nd week of the year, Sydbank acquired an additional 30,000 shares at an average price of DKK 370.11, amounting to a total purchase value of DKK 11,236,950. This latest transaction brings the total number of shares bought back since the program's commencement on March 4, 2024, to 3,178,000. The accumulated expenditure for the buyback has reached DKK 1,122,303,800.
The buyback program, which is set to continue until January 31, 2025, aims to reduce the bank's share capital. To date, Sydbank holds 3,193,283 of its own shares, corresponding to 5.85% of its share capital.
All transactions under the buyback program are carried out under the ISIN DK 0010311471 and are conducted by Danske Bank (CSE:DANSKE) A/S on behalf of Sydbank. The bank ensures that all activities are in full compliance with the European Parliament's Regulation (EU) No 596/2014 and the Commission Delegated Regulation (EU) 2016/1052, collectively known as the Safe Harbour rules.
The share buyback initiative is part of Sydbank's strategy to manage its capital structure and return value to shareholders. The bank has been transparent in its reporting, providing regular updates on the progress of the buyback.
This information is based on a press release statement from Sydbank A/S.
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