ING - ING Groep completes buyback program to pay shareholders remaining Euro297M

December, 30 2022 03:40 PM ING Group N.V.

ING Groep ( NYSE: ING ), the Netherlands-based bank, has completed its share buyback program, buying back €1.20B ($1.28B) of ordinary shares.
On Nov. 3, the company announced that it would buy back up to €1.5B of its shares. At the time, it said it would pay to shareholder any amount of cash left that had not been used to repurchase shares.
As a result, ING ( ING ) will pay to its shareholders €297M, or €0.082 per share, in cash on Jan. 16, 2023.
From Nov. 3 to date, the company acquired 107M of its ordinary shares at an average price of €11.25 each.
ING ( ING ) shares slipped 0.7% in late Friday trading.
SA contributor Mike Zaccardi says ING ( ING ) boasts low valuation, decent growth, solid yield, and a bullish chart.

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