(Finance) – The title flies to Piazza Affari Tenaris which is achieving a double-digit increase after announcing its quarterly accounts and a $1.2 billion buyback.
The group closed the third quarter with sales equal to 3.24 billion dollars, up 9% on year, Ebitda was equal to 1.004 billion (+6%), while theNet income fell to 547 million (-10%).
The Board of Directors approved the payment of a interim dividend of $0.20 per share, with an ex-dividend date of November 20.
The board also approved a buyback program of shares up to $1.2 billion, representing 6.4% of outstanding shares, to be executed within one year, with the intent to cancel the repurchased common shares.
The group, a global manufacturer and supplier of pipes and services for oil and gas exploration and production, said its profit was affected by an extraordinary non-cash charge of $144 million.