Germany’s K+S Group said it has completed a buyback of 12.3 million of its own shares for a total of just under €200 million (approximately $218 million at current exchange rates). The company said the buyback was at an average price of about €16 per share and corresponds to 6.4% of its share capital.
K+S began the buyback in mid-May (GM May 19, p. 30) and said it aims to cancel the bought-back shares by the end of this year.
“The share buyback supplemented the dividend payment of €1.00 per share for the financial year 2022,” the company said in its Nov. 17 statement. “K+S has therefore returned capital totaling around €390 million to its shareholders. This corresponds to a good 40% of the adjusted free cash flow for 2022.”
With the completion of the share buyback and the dividend payment for 2022, K+S has returned a total of around €2 per share to its shareholders.