BMW to buy back more shares worth up to 2 billion euros
The carmaker's management board approved the programme, which will be concluded no later than April 30, 2027, BMW said on Tuesday (May 20). It's the German company's third major buyback in three years.
BMW shares rose as much as 2.5 per cent in Frankfurt after the announcement. The stock is roughly flat this year.
Carmakers have returned more money to shareholders in recent months. Mercedes-Benz Group in February announced plans to buy back as much as 5 billion euros in stock over a period of two years, telling investors it may cut its stake in Daimler Truck Holding to help fund the moves.
BMW's latest programme is applicable to both ordinary and preferred shares, with the latter's volume limited at 350 million euros. At the company's annual general meeting last week, shareholders authorised the repurchase of as much as 10 per cent of the company's share capital within five years. BLOOMBERG
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AsiaOne
11 hours ago
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Trump threatens 'severe consequences' if Putin blocks Ukraine peace, World News
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But polls also indicate Ukrainians do not want peace at any cost if that means significant concessions. Russian Foreign Ministry spokesperson Alexei Fadeev earlier said Moscow's stance had not changed since last year. As conditions for a ceasefire and the start of talks, Putin had demanded Ukraine withdraw its forces from four regions that Russia has claimed as its own but does not fully control, and formally renounce plans to join Nato. Kyiv swiftly rejected the conditions as tantamount to surrender. [[nid:721315]]
Business Times
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Business Times
a day ago
- Business Times
Nanofilm back in the black with H1 net profit of S$1.6 million
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