BASF bought back shares for EUR 726 million in 2004
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BASF bought back shares for EUR 726 million in 2004 as part of its ongoing EUR 1 billion share buy-back program. A total of 16.2 million shares were bought back last year at an average price of EUR 44.79. This corresponds to 2.9 percent of the company's share capital. The share buy-back program will be continued in 2005.
Of the repurchased shares, 15,403,000 were canceled as of December 31, 2004, thereby reducing the share capital by EUR 39,431,680. The remaining 800,000 shares were also bought with the aim of canceling them. This will take place in 2005.
BASF Aktiengesellschaft had approximately 541 million shares outstanding at the end of 2004. The weighted average used for calculating earnings per share for 2004 is approximately 548,7 million shares.
The aim of buying back shares is to reduce the equity ratio and increase earnings per share.