Iberdrola to Launch $1.70 Billion Share Buyback
February 25 2020 - 2:00AM
Dow Jones News
By Giulia Petroni
Iberdrola SA (IBE.MC) said late Monday that it would start a
share buyback program valued at a maximum amount of 1.57 billion
euros ($1.70 billion).
The Spanish utility said it would acquire around 1.73% of its
share capital. Iberdrola said the program would start Tuesday and
end no later than June 12, but the company said it reserves the
right to end it earlier in case it acquires the maximum number of
shares allowed by the board or "when circumstances render it
appropriate."
The buyback is subject to shareholders' approval at the general
shareholders' meeting scheduled for early April.
Iberdrola's board also approved an agenda for the 2020 annual
general meeting, which will be held on April 2.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
February 25, 2020 01:45 ET (06:45 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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