Summary
CRH plc, a global leader in building materials, has announced the completion of a recent share buyback phase, returning an additional $0.3 billion to shareholders. This latest repurchase, conducted between September 30 and December 23, 2021, involved 5.8 million ordinary shares acquired on Euronext Dublin at a slight discount to the volume-weighted average price. Cumulatively, CRH has now returned a substantial $2.9 billion to its shareholders through its ongoing share buyback program since its inception in May 2018. Furthermore, CRH has initiated a new share repurchase program, set to commence on December 24, 2021, with a total consideration of up to $300 million. This program, managed by Societe Generale under non-discretionary instructions, will conclude by March 30, 2022. The shares will be repurchased on Euronext Dublin and held in treasury for potential cancellation or re-issue. This initiative aligns with CRH's objective to reduce share capital and remains within the authority granted by shareholders at the April 2021 AGM, which allows for the repurchase of up to 10% of the company's outstanding shares.
Key Highlights
- 1CRH completed a share buyback phase, returning $0.3 billion to shareholders.
- 2Approximately 5.8 million ordinary shares were repurchased between September 30 and December 23, 2021.
- 3The average discount to the volume-weighted average price for these repurchases was 0.73%.
- 4Total cash returned to shareholders under the ongoing buyback program has reached $2.9 billion since May 2018.
- 5A new share buyback program of up to $300 million will commence on December 24, 2021, and end by March 30, 2022.
- 6The new buyback will be conducted on Euronext Dublin, with Societe Generale managing the transactions.
- 7Repurchased shares will be held in treasury pending their cancellation or re-issue.