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EQS-Adhoc: Mercedes-Benz Group AG resolves to implement a share buyback policy and to conduct a further share buyback programme
EQS-Ad-hoc: Mercedes-Benz Group AG / Key word(s): Share Buyback
Mercedes-Benz Group AG resolves to implement a share buyback policy and to conduct a further share buyback programme
21-Feb-2024 / 18:08 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Mercedes-Benz Group AG resolves to implement a share buyback policy and to conduct a further share buyback programme
Mercedes-Benz Group AG has resolved to implement a share buyback policy. Based on such policy, the future Free Cash Flow from the industrial business (as available post potential small-scale M&A) generated beyond the approx. 40 percent dividend payout ratio of Group Net Income shall be used to fund share buybacks with the purpose of redeeming shares.
In this context, Mercedes-Benz Group AG moreover has resolved to conduct a further share buyback programme, through which it is intended to acquire own shares worth up to EUR 3 billion (not including incidental costs) on the stock exchange and to then cancel them. The further share buyback programme will be based on the authorization by the Annual General Meeting of Mercedes-Benz Group AG on July 8, 2020, authorizing the Board of Management to acquire, with the approval of the Supervisory Board, own shares up to a maximum of ten percent of the share capital until July 7, 2025. It is scheduled to commence immediately after the conclusion of the ongoing share buyback programme announced on February 16, 2023, and is expected to be completed before the expiry of the Annual General Meeting’s above-mentioned authorization.
Future share buyback programmes are subject to the necessary resolutions of the company’s corporate bodies required in each individual case.
Contact:
Edward Taylor
Tel.: +49 176 30941776
E-Mail: edward.taylor@mercedes-benz.com
End of Inside Information
21-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | Mercedes-Benz Group AG |
| Mercedesstrasse 120 | |
| 70372 Stuttgart | |
| Germany | |
| Phone: | +49 (0)711 17-0 |
| Fax: | +49 (0)711 179 40 75 |
| E-mail: | ir.mbg@mercedes-benz.com |
| Internet: | https://group.mercedes-benz.com |
| ISIN: | DE0007100000 |
| WKN: | 710000 |
| Indices: | DAX, EURO STOXX 50 |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Stuttgart; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Tradegate Exchange |
| EQS News ID: | 1842373 |
| End of Announcement | EQS News Service |
1842373 21-Feb-2024 CET/CEST