Published Tue, May 20, 2025 · 09:42 PM
[BERLIN] BMW is buying back as much as 2 billion euros (S$2.9 billion) of stock starting this month.
The carmaker’s management board approved the programme, which will be concluded no later than April 30, 2027, BMW said on Tuesday (May 20). It’s the German company’s third major buyback in three years.
BMW shares rose as much as 2.5 per cent in Frankfurt after the announcement. The stock is roughly flat this year.
Carmakers have returned more money to shareholders in recent months. Mercedes-Benz Group in February announced plans to buy back as much as 5 billion euros in stock over a period of two years, telling investors it may cut its stake in Daimler Truck Holding to help fund the moves.
BMW’s latest programme is applicable to both ordinary and preferred shares, with the latter’s volume limited at 350 million euros. At the company’s annual general meeting last week, shareholders authorised the repurchase of as much as 10 per cent of the company’s share capital within five years. BLOOMBERG
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