MUNICH, Germany — Siemens announced a new share buyback program. The new buyback, with a volume of up to €3 billion (USD $3.39 billion), is to be executed in the period ending on November 15, 2021.
“The share buyback is, in addition to an attractive dividend, another important element for enabling our shareholders to participate in our company’s success. We’re using a portion of the repurchased shares to service our employee equity programs, and thus also to foster our Ownership Culture. Already today, more than 300,000 employees hold Siemens shares,” said Ralf P. Thomas, Chief Financial Officer of Siemens AG.
The shares that are to be bought back will serve exclusively to issue shares to employees, board members of any of Siemens’ affiliated companies and members of the Managing Board of Siemens AG, to retire shares, and to service/secure the obligations or rights to acquire Siemens shares arising, in particular, from or in connection with convertible bonds or warrant bonds.
Since 2012, Siemens has bought back own shares with a value equivalent to around €10 billion (USD $11.29 billion). As part of its most recent share buyback program, Siemens acquired about 27 million shares worth about €3 billion (USD $3.39 billion) between February 2, 2016, and October 10, 2018.
Further information on the share buyback program is available at https://sie.ag/sharebuyback.Tagged with financial, Siemens