Amsterdam, the Netherlands – Royal Philips (NYSE: PHG, AEX: PHIA) today reported that on March 20, 2020 a total of 760,000 of its own common shares were repurchased, with a weighted average purchase price of EUR 32.65. These repurchases were made under the repurchase program for capital reduction purposes, which was announced on January 29, 2019.
On March 23, 2020, Philips announced that the remainder of the share repurchase program will be executed through one or more individual forward transactions, to be entered into in the course of 2020, with expected settlement dates in the second half of 2021. The size of the share buyback program - up to an amount on EUR 1.5 billion - remains unchanged. Philips will continue to provide updates on the progress of the program through press releases as appropriate, and further details will be available here.
