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BASF - News
BASF bought back shares for
€726 million in 2004
BASF bought back shares for
€726 million in 2004 as part of its ongoing €1 billion share
buy-back program. A total of 16.2 million shares were bought back last
year at an average price of €44.79. This corresponds to 2.9 percent
of the company’s share capital. The share buy-back program will be continued
in 2005.
Of the repurchased shares,
15,403,000 were canceled as of December 31, 2004, thereby reducing the
share capital by €39,431,680. The remaining 800,000 shares were also
bought with the aim of canceling them. This will take place in 2005.
BASF Aktiengesellschaft had
approximately 541 million shares outstanding at the end of 2004. The weighted
average used for calculating earnings per share for 2004 is approximately
548,7 million shares.
The aim of buying back shares
is to reduce the equity ratio and increase earnings per share. |
