AkzoNobel has repurchased 82,000 of its own ordinary shares in the period from February 27, 2017 up to and including March 3, 2017, at an average price of €63.86 per share. The consideration of the repurchase was €5.25 million.
This is part of a repurchase program announced on December 12, 2016. The total number of shares repurchased under this program to date is 1.52 million ordinary shares for a total consideration of €94.60 million.
The purpose of the program is to neutralize the dilutive effect of stock dividends paid in 2016.