Kabel Deutschland buying back €60m

Kabel Deutschland says it will buy in some $60 million-worth of its own stock, in the period beginning today September 19 and ending January 31st. The shares will be cancelled. Based on K-D’s closing price of €37.58 as at last Wednesday, the decision would mean about 1.8 per cent of K-D’s outstanding share capital would be cancelled.

K-D is also promising to paying a dividend of €1.50 a share for 2012.

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