Royal Boskalis Westminster N.V. (Boskalis) is starting a share buyback program to reduce the capital outstanding with the intention to neutralize the dilution resulting from the distribution of the 2016 stock dividend. On 6 June Boskalis issued over 3.2 million new shares as stock dividend which at that time represented a value of over EUR 100 million. The intention is to complete the buyback program before the next General Meeting of Shareholders.
Boskalis has engaged a third party to carry out the repurchasing of shares during open and closed periods. Boskalis will provide weekly updates on the progress of the program on www.boskalis.com/sharebuyback2017.
Image credit: Boskalis
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