The Socimi Lar España excluded, on November 18th, from the Stock Market the 3.94 million shares acquired in its third buyback program, which ended on October 14th.
After the exclusion, the Socimi's share capital was reduced by 7.88 million euros, 4.5% less, to stand at 167.39 million euros. The purpose of the amortization of the shares is to increase the earnings per share of the remaining shares, which will raise the remuneration to shareholders by an equivalent percentage.
The board of directors approved the definitive redemption of shares on November 11th, after the timely delegation received at this year's shareholders' meeting.
The company will announce if it decides to activate a fourth share buy-back plan, which would be added, if applicable, to those started in 2018, 2019 and 2020. Likewise, the company has paid this year a dividend worth 27.5 million euros and a return per share of 6.7%. In the first semester it obtained a net profit of 7.7 million euros, thanks to the operational progress and the stabilization in the independent valuations closed last June.
