Vestas starts USD-228m share buyback programme

The board of Danish wind turbine maker Vestas Wind Systems A/S (CPH:VWS) has decided to launch today a share repurchase programme of up to DKK 1.5 billion (USD 227.7m/EUR 201m).

Vestas said that the purpose of the programme is to adjust the company’s capital structure and to meet obligations arising from share-based incentive programmes to employees. The board of directors previously authorised the company to buy treasury shares at a nominal value not exceeding 10% of the share capital.

The programme will run from August 15 to December 28, 2018. During that period, the company will be able to purchase no more than 15,614,595 shares, which corresponds to a 7.6% stake.

Also today, Vestas posted a decline in second-quarter earnings and narrowed its guidance for the full year as a result of improved visibility.

(DKK 1.0 = USD 0.152/EUR 0.134)

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