Itaúsa continuously seeks to generate value for its stakeholders. For stockholders, this objective is also achieved by increasing earnings per share (and, consequently, dividends per share over time), which can be favored by shares buyback.
Thus, when the company evaluates that its share price is reasonably below its intrinsic value, either due to market circumstances or due to inaccurate valuation, and the return on investment is attractive, buyback programs can be set to increase the return to stockholders, always observing the company's financial condition.
In February 2021, a Itaúsa announced a new Share Buyback Program up to the limit of 250 million shares (50 million common shares and 200 million preferred shares), which represented, on that date, 4.5% outstanding shares. This program will remain opened until 08.23.2022 and is supported by the recent increase in the net asset value detached from the market value of Itaúsa shares and by the potential value creation in the coming years from all the companies in the portfolio.
In line with the best Corporate Governance practices, Itaúsa voluntarily established its Operational Rules for the Trading of its Own Shares for Treasury , and discloses, on a monthly basis, the volumes traded and the minimum, average and maximum prices adopted by Itaúsa in its transactions with its own shares.
The latest negotiations made by Itaúsa in the last years were: