COPENHAGEN – Ringkjøbing Landbobank has made further progress in its ongoing share buyback program, according to a recent press release. Danska Bank’s program, which started on February 1, 2024, is divided into two parts and is scheduled to end by January 27, 2025.
The first part of the program, amounting to DKK 750 million, was completed by June 27, 2024. The second part, which includes DKK 775 million and up to 1,550,000 shares, started on June 28, 2024 and will continue until the end of the program period.
During the third week of the program, the bank bought shares at an average price of DKK 1,132.41, which is a total of DKK 746,491,960. This brought the total number of purchased shares within the second part of the program to 659,207. In combination with the first part, Ringkjøbing Landbobank acquired 1,291,107 shares, corresponding to 4.8% of its share capital.
The transactions were carried out in accordance with the Regulation of the EU Commission no. 596/2014 and Delegated Regulation of the EU Commission no. 2016/1052, known as the “Safe Harbor” rules.
The share buyback program is part of the bank’s capital allocation strategy and reflects its commitment to return value to shareholders. It also indicates the bank’s confidence in its financial stability and future prospects.
Detailed information on transactions is published in accordance with regulations, which ensures transparency for investors and the market. Investors are closely monitoring Ringkjøbing Landbobank’s capital allocation approach as it can affect the bank’s share price and overall market valuation.
The information provided in this article is based on Ringkjøbing Landbobank’s press release.
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