The share buyback program launched by Vidrala is expected to run over the next 12 months, but would be completed earlier if the set limit of 33 million euros or around 350,000 shares is reached, representing just under 1% of the company’s capital. The company emphasized in its official announcement to the National Securities Market Commission (CNMV) that the central intent of this initiative is to optimize shareholder performance and maintain neutrality in the shareholder structure to avoid distortion of the stock price when executing purchase transactions. Vidrala explained that Kutxabank Investment will manage these acquisitions in compliance with precise price and volume constraints published by the company and reported by the CNMV.
According to Vidrala, the board approved the buyback plan along with the approval of a free capital increase. According to the company, the aim of both measures is to increase the company’s attractiveness for investors and to consolidate an established, long-term compensation policy. The Basque packaging manufacturer told CNMV that the free capital increase will allow an increase in total shareholder remuneration, calculating an increase of approximately 15% when considering the dividend to be paid and the new shares allocated together.
Vidrala reported that the dividend planned for the current financial year will reach 1.2318 euros gross per share and will be paid out on February 13th. This amount represents a 10% increase over last year’s dividend, considering only the size of the payment. BBVA acts as the main actor in the process and manages the payment to the partners under an agreement designed to ensure the transparency and effectiveness of the payment, according to the information contained in the documents sent to the CNMV.
The manufacturer stated that the buyback was subject to strict conditions. For each share, the company may only offer a price that does not exceed the highest price between the last independent transaction and the highest current offer on the trading venue where the acquisition takes place. This criterion applies even if Vidrala’s securities are listed on several markets at the same time. In addition, the volume of securities purchased daily cannot exceed 25% of the average number of shares traded in the twenty previous trading sessions on the market where the purchase is made. All these restrictions are aimed at maintaining regularity and avoiding abrupt price movements, as highlighted in the documents submitted by the company and the CNMV.
Vidrala’s official statement states that the philosophy behind these decisions is to maintain a lasting remuneration policy for shareholders. The company highlighted the importance of ensuring that both dividend distributions and share buybacks are aligned with the group’s operational and financial performance, which strengthens the predictability and sustainability of returns received by investors over time. Vidrala argued that the support of operational strength and sound financial position makes it possible to maintain a regular compensation policy that is at all times linked to the company’s business results and economic forecasts.
As Vidrala details and reported by CNMV, the comprehensive approach to financial policy combines regular dividends with specific share capital measures to ensure the growth of the value offered to investors. The aim is to strengthen market confidence, maintain payment stability and promote a balance of interests between management and the shareholder base. The company emphasized that the entire payment and repurchase structure depends on the actual performance of the business and that transparency in the implementation of initiatives is an inevitable principle that is always present in communications and relationships with shareholders.
According to Vidrala, the launch of the new released capital increase together with the approval of the buyback program strengthens its financial and investor return strategy. These instruments make it possible to obtain direct benefits and integrate measures aimed at increasing the competitiveness of their securities in the markets in which the company is present. Vidrala has repeatedly emphasized in its official statements reproduced by the CNMV that the basis of its remuneration policy rests on a long-term vision, with the distribution of benefits depending on the success and the way in which the company develops.
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