Summary
CRH Public Ltd Co has announced the completion of the latest phase of its share buyback program, successfully returning an additional €350 million in cash to its shareholders. This action, executed between April 29 and August 7, 2019, involved repurchasing 12.2 million ordinary shares on the London Stock Exchange and Euronext Dublin. The average discount to the volume-weighted average price was minimal at 0.75%, indicating efficient execution. Cumulatively, this latest phase brings the total cash returned to shareholders under CRH's ongoing buyback program to €1.35 billion since its inception in May 2018. The company indicated that further share buybacks are under active consideration and will be detailed in their upcoming Interim Results announcement scheduled for August 22, 2019. Investors should note this continued commitment to shareholder returns and watch for future capital allocation strategies.
Key Highlights
- 1CRH completed a share buyback phase, returning €350 million to shareholders.
- 212.2 million ordinary shares were repurchased between April 29 and August 7, 2019.
- 3Repurchases occurred on the London Stock Exchange and Euronext Dublin.
- 4The shares were bought at an average discount of 0.75% to the volume-weighted average price.
- 5Total cash returned to shareholders under the buyback program now stands at €1.35 billion since May 2018.
- 6Further share buybacks are under active consideration and will be announced with Interim Results on August 22, 2019.