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By Sabela Ojea

 

Koninklijke Philips N.V. said Monday that its balance sheet and liquidity position are strong, adding that the size of its share-buyback program remains unchanged.

Philips said that the remainder of its 1.5 billion euros ($1.7 billion) buyback program will be executed through one or more forward transactions to be entered into in the course of 2020.

"Philips aims to optimize the number of shares to be repurchased under the program, while maintaining its current liquidity position in view of the possible further impact of the COVID-19 pandemic on financial markets in 2020," it added.

 

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

 

(END) Dow Jones Newswires

March 23, 2020 03:44 ET (07:44 GMT)

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