Richter AGM approves dividend, buybacks
Shareholders of Hungarian drug producer Richter Gedeon approved the firm's dividend and share buyback proposals and re-elected its key board members.
Shareholders also extended the board's authority to buy back up to 10% of the company's shares on the Budapest bourse. The authority for the buybacks was given so Richter could use it for possible acquisitions and for its management share options program.
Richter's board has had for years the authority to buy back its shares but rarely used this facility.
Shareholders also re-elected Chief Executive Erik Bogsch and board chairman William de Gelsey to the board, among others. (Reuters)
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