Home Business & Finance Dax companies buy back their own shares for almost 18 billion euros

Dax companies buy back their own shares for almost 18 billion euros

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Dax companies buy back their own shares for almost 18 billion euros

BASF, Linde, Adidas The three Dax companies are buying back a particularly large number of their own shares. According to Handelsblatt calculations, the largest listed companies in Germany want to spend 17.7 billion euros on buying back their own shares. That is even more than in the previous record year 2008: Shortly before the outbreak of the financial crisis, the Dax companies had used 16.9 billion euros for share buybacks. After presenting its annual figures on Friday, SAP announced that it would buy up its own shares on the stock exchange for a billion euros. The software group wants to use the shares primarily for the remuneration of employees. The program will start in February and will run until the end of the year. At the beginning of this week, Dax newcomer Hellofresh announced its intention to buy back shares worth 250 million euros, just before BASF announced a three billion euro program. Linde, on the other hand, wants to take shares worth the equivalent of 4.3 billion euros off the market, and at Adidas it’s four billion euros.

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