The banking group Agricultural credit will launch from Thursday June 10 a share buyback program for a maximum amount of 558.6 million euros, he announced Wednesday.
“The program will start on June 10, 2021 and will end no later than September 30, 2021. The shares acquired under the program will be canceled”, is it specified in a press release. This share buyback program was mentioned by the bank in February when it published its annual results. The group had indicated on this occasion wanting to pay a dividend of 80 euro cents per share, with an option of payment in shares. This program must “Correct the impact on Crédit Agricole SA’s net earnings per share of the participation of minority shareholders in the option of payment of the dividend in shares”, explained Crédit Agricole in a previous press release published on Monday.
Many of Crédit Agricole’s minority shareholders have chosen the option to receive a stock dividend, which has resulted in the creation of more than 175 million ordinary shares.