Norsk Hydro: Status share buyback program
Rhea-AI Summary
Norsk Hydro ASA has provided an update on its share buyback program, which was announced on September 11, 2024, and is set to end on February 28, 2025. From October 2 to October 8, 2024, the company repurchased a total of 1,097,000 shares at a weighted average price of NOK 67.91 per share, for a total transaction value of NOK 74,258,718.
Prior to this program, Norsk Hydro owned 14,082,505 own shares. Following these transactions, the company now owns 17,920,461 shares, representing 0.89% of its share capital. The accumulated total of shares repurchased under the program to date is 3,837,956 at an average price of NOK 64.01, totaling NOK 245,658,243.
Positive
- Norsk Hydro is executing a share buyback program, potentially increasing shareholder value
- The company has repurchased 3,837,956 shares to date, demonstrating commitment to the program
- Share buybacks can lead to increased earnings per share for remaining shareholders
Negative
- The share buyback program may reduce the company's cash reserves
- Funds used for buybacks could potentially be used for other growth opportunities or investments
News Market Reaction
On the day this news was published, NHYDY gained 0.82%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Norsk Hydro: Status share buyback program
Please see below information about transactions made under the share buyback program for Norsk Hydro ASA.
Announcement date of the share buyback program: September 11, 2024
End date of the share buyback program: February 28, 2025
Overview of transactions:
| Date | Aggregated daily volume (number of Shares) | Weighted average share price per day (NOK) | Total daily transaction value (NOK) |
| 02/10/2024 | 172 000 | 68.81 | 11 834 598 |
| 03/10/2024 | 250 000 | 67.53 | 16 881 300 |
| 04/10/2024 | 225 000 | 68.26 | 15 357 375 |
| 07/10/2024 | 150 000 | 68.63 | 10 294 395 |
| 08/10/2024 | 300 000 | 66.30 | 19 891 050 |
| Previous Transactions | 2 740 956 | ||
| Accumulated to date | 3 837 956 | 64.01 | 245 658 243 |
Prior to the share buyback program Norsk Hydro ASA owned a total of 14 082 505 own shares. Following the above listed transactions, Norsk Hydro ASA owns a total of 17 920 461 shares, corresponding to
Attachment: An overview of all the completed transactions under the program for the dates specified above is attached to this notification and available on www.newsweb.no.
Investor contact:
Martine Rambøl Hagen
Head of Investor Relations
+47 91708918
Martine.Rambol.Hagen@hydro.com
This is information that Norsk Hydro ASA is obliged to make public pursuant to the EU Market Abuse Regulation and subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.
Attachment
FAQ
When does Norsk Hydro's (NHYDY) current share buyback program end?
How many shares has Norsk Hydro (NHYDY) repurchased under the current program?
What is the total value of shares repurchased by Norsk Hydro (NHYDY) in the current program?
What percentage of Norsk Hydro's (NHYDY) share capital does the company now own after recent buybacks?
