Dimed S.A. Distribuidora de Medicamentos announces an Equity Buyback for 2,000,000 shares, representing 3.06% of its issued share capital.
August 12, 2020
Share
Dimed S.A. Distribuidora de Medicamentos (BOVESPA:PNVL4) announces a share repurchase program. Under the program, the company will repurchase up to 2,000,000 common shares, representing 3.06% of its issued share capital. The purpose of the share repurchases to maximize the generation of value for shareholders, based on a structure of adequate capital combined with the growth of earnings and earnings per share, as well as enabling the implementation of any long-term incentive plans to be be deliberated by the shareholders within the scope of the company through which executives will receive shares issued by the company. The share repurchases will be funded through available resources from results accumulated and of the current year. The program is valid till August 12, 2021. As of August 13, 2020, the company has 73,288,157 shares are issued and outstanding, 65,372,937 of which are common shares and 7,915,220 of preferred shares.
Dimed SA Distribuidora de Medicamentos, formerly Panvel SA Drogarias e Farmacias, is a Brazil-based company principally engaged in the sale of drugs. The Company, along with its subsidiaries, sells, distributes, imports, exports and produces a variety of products, including drugs, perfumes, cosmetics, dermo-cosmetics, personal care products, dietary supplements, and fitness, orthopedic and physiotherapy accessories. It organizes its business into two main segments: Medicine and Perfumery. The Company provides retail and wholesale distribution. The Company owns distribution centers in Brazilian states of Rio Grande do Sul, Santa Catarina, Parana, Goias and Espirito Santo, as well as over 280 stores in states of Rio Grande do Sul, Santa Catarina and Parana.