AkzoNobel has repurchased 178,500 of its own ordinary shares in the period from March 27, 2017 up to and including March 31, 2017, at an average price of €77.45 per share. The consideration of the repurchase was €13.86 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 2.17 million ordinary shares for a total consideration of €143.66 million.
The purpose of the program is to neutralize the dilutive effect of stock dividends paid in 2016.
For more information, visit the Share buyback overview.
This is a press release by Akzo Nobel N.V. pursuant to Section 5, paragraph 4 of the Netherlands Decree on Public Takeover Bids.