Summary
CRH Public Limited Company (CRH) announced the completion of the first phase of its share buyback program. This initiative returned €350 million in cash to shareholders. The buyback period ran from May 2, 2018, to July 31, 2018, during which CRH repurchased approximately 11.4 million ordinary shares on the London Stock Exchange.
Key Highlights
- 1CRH has successfully completed Phase 1 of its share buyback program, returning €350 million to shareholders.
- 2The buyback occurred between May 2, 2018, and July 31, 2018.
- 3Approximately 11.4 million ordinary shares were repurchased.
- 4The average purchase price represented a discount of 0.5% to the volume-weighted average price (VWAP) during the period.
- 5CRH is a global building materials group.
- 6Further details on subsequent phases of the share buyback program will be announced later.
Frequently Asked Questions
The completion of the first phase signifies CRH's commitment to returning capital to its shareholders. It demonstrates confidence in the company's financial position and a strategy to enhance shareholder value through share repurchases.
A total of €350 million in cash was returned to shareholders as part of the first phase of the share buyback program.
The shares were repurchased on the London Stock Exchange at an average discount of 0.5% to the volume-weighted average price during the buyback period.
Yes, CRH has indicated that details relating to subsequent phases of their share buyback program will be announced in due course, suggesting this is an ongoing initiative.