Buybacks Among European, U.K. Companies Ramp Up — At a Glance
A flurry of major companies across Europe and the U.K. have announced buybacks this week after Shell, Deutsche Bank and Novo Nordisk said last week that they would reward shareholders in the same fashion.
Here is a list of companies that have said this week they plan to buy back shares:
-- Oil-and-gas giant BP boosted its buyback on Tuesday to $1.75 billion in each of the first two quarters this year compared with a share purchase of $1.5 billion in the previous quarter.
-- Swiss bank UBS said Tuesday it would reinstate its buyback program to the tune of $1 billion in the second half after pausing own-share purchases amid the Credit Suisse acquisition last year.
-- Italian bank Unicredit said Monday that it plans shareholder distributions of 8.6 billion euros ($9.24 billion) corresponding to 2023, including dividends and share buybacks. For 2024, the bank expects to raise distributions to EUR10 billion through a combination of dividends and buybacks that will depend on market conditions, it said.
-- German skincare company Beiersdorf announced a buyback of EUR500 million on Monday that will start in May.
-- Italian lender Intesa Sanpaolo said Tuesday that it would buy back shares this year, but didn't provide a figure.
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(END) Dow Jones Newswires
February 06, 2024 09:41 ET (14:41 GMT)
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