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DSM repurchases its shares in early June

June 10/2021

MOSCOW (MRC) -- Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, has repurchased 117,895 of its own shares in the period from 31 May 2021 up to and including 4 June 2021 at an average price of EUR151.73, according to MarketScreener.

This is in accordance with the repurchase program announced on 16 March 2021, covering the commitments for the final stock dividend 2020. The consideration of this repurchase was EUR17.9 million.

The total number of shares repurchased under this program since 3 May 2021 to date is 686,227 shares for a total consideration of EUR103 million.

As MRC reported earlier, in April 2021, DSM said it had completed the sale of the resins & functional materials businesses to Covestro for EUR1.6 billion (USD1.9 billion), including EUR1.4 billion in cash. It included DSM Niaga, DSM additive manufacturing, and the coatings activities of the DSM advanced solar business, which together represented EUR1.01 billion of DSMs 2019 total annual net sales and EUR133 million of DSMs 2019 total EBITDA.

We remind that Covestro closed the sale of its European polycarbonates (PC) sheets business to the Munich-based Serafin Group effective January 2, 2020. This includes key management and sales functions throughout Europe as well as production sites in Belgium and Italy.

Royal DSM, commonly known as DSM, is a Dutch multinational corporation active in the fields of health, nutrition and materials. The Materials cluster is made up of DSM Engineering Materials, DSM Protective Materials and DSM Resins & Functional Materials. DSM Engineering Materials specialty plastics are used in components for the electrical and electronics, automotive, flexible food packaging and consumer goods industries.
Author:Margaret Volkova
Tags:Europe, PC, sheet extrusion, petrochemistry, adhesives, Covestro, DSM.
Category:General News
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