DFDS A/S Announces DKK 431 Million Share Buyback Programme

DFDS, a Danish shipping and logistics firm, announces a DKK 431M share buyback program, signaling confidence in its financial position and growth potential.

author-image
Trim Correspondents
New Update
DFDS A/S Announces DKK 431 Million Share Buyback Programme

DFDS A/S Announces DKK 431 Million Share Buyback Programme

DFDS A/S, a Danish shipping and logistics company, has announced a share buyback programme to repurchase up to 3,400,000 of its own shares, with a total value of up to DKK 431 million. The programme will be executed from 12 February 2024 to 31 December 2024, in accordance with EU Market Abuse Regulation and Safe Harbour Rules.

The transactions made under the programme from 15 April 2024 to 19 April 2024 have been disclosed. During this period, DFDS purchased 37,170 shares at an average price of DKK 206, with an additional 26,422 shares purchased from Lauritzen Fonden Holding ApS on 19 April 2024. Following these transactions, DFDS now holds a total of 2,271,292 treasury shares, corresponding to 3.9% of its total share capital.

Why this matters: Share buyback programmes can signal a company's confidence in its future prospects and can help boost shareholder value. As a major player in the European transport and logistics industry, DFDS's decision to repurchase its shares may indicate its strong financial position and growth potential.

DFDS is a transport and logistics company with an annual revenue of DKK 28 billion and 14,000 full-time employees. The company operates a transport network in and around Europe, moving goods in trailers by ferry, road, and rail. DFDS also offers complementary and related transport and logistics solutions, as well as car and foot passenger services on short sea and overnight ferry routes.

The share buyback programme is part of DFDS's ongoing efforts to optimize its capital structure and return value to shareholders. "The share buyback programme is evidence of our strong financial position and our commitment to creating value for our shareholders," said a DFDS spokesperson. The company will continue to execute the programme in accordance with the EU Market Abuse Regulation and Safe Harbour Rules until its completion on 31 December 2024.

Key Takeaways

  • DFDS to repurchase up to 3.4M shares, worth DKK 431M, by end of 2024.
  • DFDS purchased 37,170 shares at avg. price of DKK 206 from Apr 15-19, 2024.
  • DFDS now holds 2,271,292 treasury shares, 3.9% of total share capital.
  • Share buyback signals DFDS's confidence in its financial position and growth.
  • Buyback program aims to optimize capital structure and return value to shareholders.