IBEX 35 companies reduce their treasury stock as they increase 45% the amortisation of own shares

2 July, 2020

• 16 companies in the IBEX 35 index reduced their treasury stock in 2019, according to the latest report from BME’s Economic Research Department

The treasury stock held by Ibex 35 companies decreased last year from 0.67% to 0.38%, according to a report by the BME’s Economic Research Department. This reduction comes, above all, as a consequence of the increase in the amortisation of treasury shares by the companies included in the Spanish stock market’s benchmark.

The value of treasury stock held by Ibex 35 companies totalled 2.22 billion euros at the end of 2019, compared to 3.47 billion euros in the previous year, down 36%.

Of the 31 companies in the index that held treasury stock in December 2019, 16 reduced it compared to 2018, 13 increased it and two barely showed any changes. Mediaset, Repsol, ACS, Ence and Meliá were the companies that most increased their treasury stock last year, while Acciona, Acerinox, Amadeus, Bankia, Ferrovial, Iberdrola and Naturgy were the ones that most reduced it, after amortising their own shares.

Amortisation of own shares in Ibex 35 companies grew 45% last year, from 3.60 billion euros in 2018 to 5.22 billion euros in December 2019. Iberdrola, with 2.50 billion euros, and Repsol, with 1.02 billion euros, were the companies with the highest volume amortised.

The market value of own shares held as treasury stock by Ibex 35 companies together with the amortisations made last year exceeded 5.31% that of last year, totalling 7.45 billion euros.

Access to full report (available only in Spanish): https://bit.ly/2YUjw6V

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