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Julius Baer completes share buy-back programme
Global Banking & Finance Review®
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ZURICH (Reuters) – Julius Baer said on Wednesday it has completed the 400 million Swiss franc ($425.35 million) share buy-back program it launched in March 2022.
ZURICH (Reuters) – Julius Baer said on Wednesday it has completed the 400 million Swiss franc ($425.35 million) share buy-back program it launched in March 2022.
As part of the program, the Swiss bank repurchased almost 8 million shares at an average price per share of CHF 51.29. The cancellation of the bought back shares will be proposed at the upcoming Annual General Meeting, the bank said.
($1 = 0.9404 Swiss francs)
(Reporting by Noele Illien; Editing by Kim Coghill)
A share buy-back is when a company purchases its own shares from the marketplace, reducing the number of outstanding shares. This can increase the value of remaining shares and improve financial ratios.
An Annual General Meeting (AGM) is a yearly gathering of a company's shareholders to discuss the company's performance, elect board members, and make decisions on corporate matters.
Share cancellation is the process of removing shares from circulation, which can enhance the value of remaining shares and improve earnings per share (EPS) for existing shareholders.
The average price per share is calculated by dividing the total cost of shares purchased by the number of shares bought. It helps investors understand the cost basis of their investment.
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