8-K

CRH PUBLIC LTD CO 8-K Report (Apr 2, 2019)

Filed April 2, 2019For Securities:CRH

Summary

CRH plc has announced the successful completion of Phase 4 of its share buyback program, returning an additional €200 million in cash to its shareholders. This latest phase, which ran from January 2, 2019, to March 29, 2019, involved the repurchase of 7.6 million ordinary shares on the London Stock Exchange and Euronext Dublin. The shares were acquired at an average discount of 0.6% to the volume-weighted average price, indicating efficient execution of the buyback strategy. This €200 million return represents a significant deployment of capital and brings the total cash returned to shareholders through the company's buyback program to approximately €1 billion over the preceding 12 months. The company also indicated that further share buybacks are under active consideration, with details expected to be shared in their upcoming Trading Update on April 24, 2019. This ongoing commitment to shareholder returns suggests a positive outlook on cash generation and capital allocation strategies.

Key Highlights

  • 1CRH plc completed Phase 4 of its share buyback program, returning €200 million to shareholders.
  • 2The buyback occurred between January 2, 2019, and March 29, 2019.
  • 37.6 million ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin.
  • 4The average discount to the volume weighted average price was 0.6%.
  • 5Total cash returned to shareholders via buybacks over the last 12 months is approximately €1 billion.
  • 6CRH is actively considering further share buybacks.

Frequently Asked Questions

The completion of Phase 4 signifies CRH's continued commitment to returning capital to its shareholders. The program has successfully returned €200 million in this phase, bringing the total returned over the past year to approximately €1 billion. This demonstrates the company's confidence in its financial health and its ability to generate strong cash flows.

The shares were repurchased at an average discount of 0.6% to the volume-weighted average price (VWAP) during the period of the buyback (January 2 to March 29, 2019). This indicates that the company was able to acquire its shares at a slightly favorable price relative to the market's average trading price.

Yes, CRH is actively considering further share buybacks. Investors can expect more details on this during the company's upcoming Trading Update announcement, scheduled for April 24, 2019.

Over the last 12 months, CRH has returned approximately €1 billion to shareholders through its share buyback program, including the €200 million from Phase 4.