BUEDELSDORF (dpa-AFX) - Freenet (FRAGF.PK) has decided to launch a share buyback program 2021, by which the company will repurchase up to 135 million euros of shares. The buyback program is scheduled to begin on 25 February 2021 and will run until 31 December 2021 at the latest.
With the announced 135.0 mln euros share buyback program 2021 - in addition to 51.4 million euros share buyback program 2020 - a further significant amount of the retained dividend for 2019 is to be distributed to shareholders, the company said. In total, distributions from share buybacks could amount to an expected 186.4 million euros by 31 December 2021.
The company plans to distribute the remaining part of the dividend of about 20 million euros retained in the previous year in the form of a special dividend of 0.15 euros per share.
The Management Board plans to propose to the Annual General Meeting that a dividend of 1.50 euros per share be distributed for the 2020 financial year. In total, an amount of 1.65 euros per dividend-bearing share would thus be distributed to shareholders in 2021.
In addition, the Supervisory Board of freenet said that it has extended the service agreements of Management board members Antonius Fromme (Chief Customer Experience Officer) and Rickmann von Platen (Chief Commercial Officer), which expire in May 2021, by five years to 31 May 2026.
The appointment of Ingo Arnold, CFO of freenet, was also extended by five years to 31 December 2026. In addition, Ingo Arnold was appointed Deputy CEO of freenet AG with effect from 1 January 2021.
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