Iberdrola Announces Buyback Program of EUR745.1 Million
February 20 2018 - 9:55AM
Dow Jones News
By Marc Bisbal Arias
Iberdrola SA (IBE.MC) said Tuesday that it will start a buyback
program valued at a maximum amount of 745.1 million euros ($918.9
million).
The Spanish utilities company said the buyback program will
cover up to 99.3 million shares. This represents around 1.5% of its
capital.
The program will take place from Feb. 21 to June 15. However,
Iberdrola said that it reserves the right to terminate the program
early if the company acquires the maximum number of shares allowed
by the board of directors or "when circumstances render it
appropriate."
The buyback program is subject to approval at the shareholders'
meeting, scheduled for mid-April.
Write to Marc Bisbal Arias at marc.bisbalarias@dowjones.com
(END) Dow Jones Newswires
February 20, 2018 09:40 ET (14:40 GMT)
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