Richter Board Decides on Share Buyback Program

Pharma

Image by gedeonrichter.com

The board of Gedeon Richter has decided on a 12-month share buyback program up to HUF 40 billion, the pharmaceutical company said on Tuesday.

The board "considered shareholders' expectations" when taking the decision which was in line with improving Richter's financial results and cash generation. 

The buyback program must still be approved by shareholders at an annual general meeting scheduled for April 25.

The board is also proposing payment of a HUF 390-per-share dividend on last year's earnings at the AGM.

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