Bilfinger jumps on share buyback, special dividend plans
12/08/2021 07:35
** Shares in Bilfinger GBFG.DE are up 7.4% in early
Frankfurt trade after the German construction and engineering
group announced share buyback, special dividend plans
** The company announced on Wednesday it resolves to use the
available surplus capital of 109 million euros ($127.94 million)
for a combination of share buyback and special dividend (250
million euros) as well as investments in organic growth and
acquisitions urn:newsml:reuters.com:*:nASN001JJ1
** It will propose to the 2022 annual general meeting a
special dividend of 3.75 euros per share and will ask to approve
the authorization to buy back shares up to a maximum volume of
10%
** "All proposed measures are in the interest of
shareholders," a local trader says
** In addition, the company slightly raised its 2021 outlook
as it reported Q2 revenue up 23% urn:newsml:reuters.com:*:nL8N2PI6PM
($1 = 0.8519 euros)
(Reporting by Bartosz Dabrowski)
((bartosz.dabrowski@thomsonreuters.com; +48 58 7696560;))