Share buyback
During the past years, Sampo has been returning excess capital that emerged from the exit of Nordea to shareholders through buybacks.
The decision of the Annual General Meeting
The Annual General Meeting of 2024 authorised the Board to resolve to repurchase, on one or several occasions, a maximum of 50,000,000 Sampo plc A shares on the condition that the number of own shares held by the Company at any given time may not exceed 10 per cent of all the shares in the Company. If the Board decides on share issue without consideration in proportion to shares owned, the maximum number of shares that may be repurchased will be automatically multiplied by the same ratio without any separate decision. The repurchased shares will be cancelled.
The authorisation will be valid until the close of the next Annual General Meeting, however no longer than 18 months from the Annual General Meeting’s decision.
Share buybacks 2021-2024
During the past years, Sampo has been returning excess capital that emerged from the exit of Nordea to shareholders through buybacks. The first buyback programme began on 4 October 2021.
| Buybacks by quarter | Shares repurchased | EURm |
|---|---|---|
| Q4/2021 | 8,539,956 | 380 |
| Total 2021 | 8,539,956 | 380 |
| Q1/2022 | 8,788,549 | 379 |
| Q2/2022 | 6,928,748 | 308 |
| Q3/2022 | 8,686,878 | 379 |
| Q4/2022 | 8,038,404 | 377 |
| Total 2022 | 32,442,579 | 1,443 |
| Q1/2023 | 3,191,546 | 155 |
| Q2/2023 | 6 697 623 | 293 |
| Q3/2023 | 2 683 394 | 107 |
| Q4/2023 | - | - |
| Total 2023 | 12,572,563 | 555 |
| Q1/2024 | - | - |
| Q2/2024 | 857,830 | 34 |
| Q3/2024 | 6,814,221 | 275 |
| Q4/2024 | 4,075,639 | 166 |
| Total 2024 | 11,747,690 | 475 |
| Total 2021-2024 | 65,302,788 | 2,853 |
Share buyback programmes
Share buyback programme, 18 June 2024 – 29 November 2024
The Board of Sampo resolved on 17 June 2024 to deploy EUR 800 million of capital through a new share buyback programme and potential squeeze-out of Topdanmark minority shares. The capital deployment was divided into two parts: As the first step, Sampo launched a share buyback programme of EUR 400 million. The first part of the share buyback programme started on 18 June 2024 and was annouced to end no later than 31 October 2024.
As the second step, following the announcement of the final result of the exchange offer to Topdanmark shareholders, the Board of Directors of Sampo plc resolved on 16 September 2024 to increase the EUR 400 million buyback programme announced on 17 June 2024 to EUR 475 million. With the EUR 325 million allocated to the squeeze-out of the remaining Topdanmark minority shares, this brought the total amount deployed to enhance capital efficiency and EPS accretion, to EUR 800 million, as announced on 17 June 2024. In connection with the resolution to increase the total size of the buyback programme, the Board resolved to extend the buybacks to end no later than 30 November 2024.
The repurchases of shares ended on 29 November 2024. Sampo repurchased 11,747,690 of its own A shares at an average price per share of EUR 40.43. The amount corresponds to 2.3 per cent of all Sampo plc’s shares based on the share count prior to the start of the programme. The repurchase of own shares reduced the company's unrestricted equity by EUR 475 million. The repurchased shares were cancelled on 12 December 2024.
- Release, 17 Jun 2024internal link
- Release, 16 Sep 2024internal link
- Release, 2 Dec 2024internal link
- Release, 10 Dec 2024internal link
Share buyback programme, 3 April 2023 - 1 August 2023
The Board of Directors of Sampo plc decided on 29 March 2023 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 18 May 2022. The repurchases of shares started on 3 April 2023 and ended on 1 August 2023.
Sampo repurchased 9,381,017 of its own shares at an average price per share of EUR 42.64. The amount corresponds to 1.8 per cent of all Sampo plc’s shares based on the share count prior to the start of the programme. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 400 million. The repurchased shares were cancelled on 10 August 2023.
- Release, 29 Mar 2023internal link
- Release, 1 Aug 2023internal link
- Release, 10 Aug 2023internal link
Share buyback programme, 10 June 2022 - 8 February 2023
The Board of Directors of Sampo plc decided on 9 June 2022 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 18 May 2022. The repurchases of shares started on 10 June 2022 and ended on 8 February 2023.
Sampo repurchased 22,083,582 of its own shares at an average price per share of EUR 45.28. The amount corresponds to 4.1 per cent of all Sampo plc’s shares based on the share count prior to the start of the programme. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 1 billion. The repurchased shares were cancelled on 8 December 2022 and 30 March 2023.
- Release, 9 Jun 2022internal link
- Release, 8 Dec 2022internal link
- Release, 9 Feb 2023internal link
- Release, 30 Mar 2023internal link
Share buyback programme, 31 March 2022 - 17 May 2022
The Board of Directors of Sampo plc decided on 30 March 2022 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 19 May 2021. The repurchases of shares started on 31 March 2022 and ended on 17 May 2022.
Sampo repurchased 4,961,994 of its own shares at an average price per share of EUR 45.85. The amount corresponds to 0.9 per cent of all Sampo plc’s shares. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 228 million. The repurchased shares were cancelled on 20 May 2022.
- Release, 30 Mar 2022internal link
- Release, 18 May 2022internal link
- Release, 20 May 2022internal link
Share buyback programme, 4 October 2021 - 25 March 2022
The Board of Directors of Sampo plc decided on 1 October 2021 to launch a buyback programme for Sampo A shares based on the authorisation granted by Sampo’s Annual General Meeting on 19 May 2021. The repurchases of shares began on 4 October 2021 and ended on 25 March 2022.
Sampo repurchased 17,128,505 of its own shares at an average price per share of EUR 43.79. The amount corresponds to 3.08 per cent of all Sampo plc's shares. The repurchase of own shares reduced the company's unrestricted equity by approximately EUR 750 million. The repurchased shares were cancelled on 31 March 2022.
Updated