The Danske Bank Group adjusts its capital structure on an ongoing basis. One way we do this is through share repurchases. The annual general meeting has given the Bank’s board of directors the authority to repurchase 10% of the Bank’s share capital.
Share repurchases
| July 16 - Dec. 29 2004 |
2 |
12,622,406 |
158.5 |
| July 1 - Jul. 15 2004 |
0.5 |
3,532,602 |
144.2 |
| First half of 2004 |
2.5 |
17,806,468 |
139.9 |
| Second half of 2003 |
3 |
23,106,433 |
129.8 |
| First half of 2003 |
2 |
16,303,664 |
122.7 |
| May 2002 |
3 |
20,324,151 |
147.6 |
| December 2000 |
5 |
36,586,497 |
136.7 |
2005At the annual general meeting on 15 March 2005, the shareholders adopted a measure to reduce the share capital by a nominal amount of DKK 339,614,760 by cancelling shares repurchased in 2004. The capital reduction was registered at the end of June 2005, and accordingly the share capital amounted to DKK 6,383,042,760 and the shares numbered 638,304,276.
Repurchase in 2004In 2004, Danske Bank repurchased 33,961,476 shares at an average price of 147.23 and a total market value of DKK 5.0 billion. This reduced the number of shares outstanding from 672,265,752 at the end of 2003 to 638,304,276 at the end of 2004.
Repurchase in 2003To optimise its capital structure, Danske Bank repurchased shares of a total market value of DKK 5.0 billion in 2003.
The share buyback raised the Group’s earnings per share by 0.3 of a percentage point. In the first half of 2003, the Group bought back 16,303,664 shares at an average price of 122.7 and a total market value of DKK 2.0 billion.
In the second half of 2003, the Group repurchased 23,106,433 shares at an average price of 129.8 and a total market value of DKK 3.0 billion. This reduced the number of shares outstanding from 711,675,849 at the end of 2002 to 672,265,752 at the end of 2003.
Repurchase in 2002In the second quarter of 2002, the Bank repurchased 20,324,151 shares at an average price of DKK 147.61 and total market value of DKK 3 billion. On 25 March 2003, the annual general meeting approved a measure to cancel the shares. This reduced the number of shares outstanding from 732,000,000 at the end of 2001 to 711,675,849 at the end of 2002.
Total repurchases since 2000Since 2000, the Bank has repurchased shares for a total value of DKK 18 billion.
Last updated on 1 May 2006