Deutsche Post to Buy Back Up to EUR1 Billion of Own Stock
March 08 2016 - 9:27AM
Dow Jones News
By William Wilkes
FRANKFURT--Deutsche Post AG (DPW.XE) Tuesday said it will buy
back up to 1 billion euros ($1.1 billion) of its own stock as it
confirmed its mid-term targets.
The German logistics company said the shares would either be
cancelled or used to meet other obligations. The company said the
buyback "is to be seen against the background of the strong free
cash flow generation," as well as having met its operating profit
guidance for 2015.
Deutsche Post also confirmed its financial targets for 2016 and
2020. The company is scheduled to report 2015 results on
Wednesday.
Write to William Wilkes at william.wilkes@wsj.com
(END) Dow Jones Newswires
March 08, 2016 09:12 ET (14:12 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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