OCI up after further capital returns plan

OCI

12/11/2024 08:58

** Shares of OCI  OCI.AS  rise around 5% after the Dutch
chemicals maker announced further capital returns 
    ** OCI said it intended to distribute a further $1 billion
in H1 2025 via capital repayment, on top of already announced
dividend of EUR 14.50 per share
        ** "We are pleased with the new additional USD 1bn
capital return announced for H1-25 (close to Eur 4.50 p/s),"
Degroof Petercam says in a note
  
        ** It adds, however, that questions over what the
company will do with about estimated $1-2 billion excess cash
still remain
  

 (Reporting by Alban Kacher)
 ((alban.kacher@thomsonreuters.com))