Summary
CRH Public Limited Company (CRH) has announced the completion of its latest share buyback program, returning an additional $0.3 billion to shareholders. This most recent phase, conducted between December 24, 2021, and March 16, 2022, involved the repurchase of 6.1 million ordinary shares on Euronext Dublin, averaging a slight discount to the volume-weighted average price. This latest return of capital brings the total amount returned to shareholders through the ongoing share buyback program to $3.2 billion since its inception in May 2018. Furthermore, CRH has initiated a new share repurchase program, authorizing up to $300 million for further buybacks, commencing March 17, 2022, and concluding by June 27, 2022. These repurchases will also occur on Euronext Dublin, with Societe Generale executing trades under non-discretionary instructions. The company's commitment to returning capital to shareholders through buybacks signals confidence in its financial position and operational outlook, while the repurchased shares are intended to be held in treasury pending cancellation or re-issue.
Key Highlights
- 1CRH has completed another phase of its share buyback program, returning $0.3 billion to shareholders.
- 2A total of 6.1 million ordinary shares were repurchased between December 24, 2021, and March 16, 2022.
- 3The shares were bought back on Euronext Dublin at an average discount of 1.43% to the volume-weighted average price.
- 4Total capital returned to shareholders via share buybacks since May 2018 now stands at $3.2 billion.
- 5A new buyback program of up to $300 million has been initiated, commencing March 17, 2022, and ending by June 27, 2022.
- 6Societe Generale will execute the new buybacks on behalf of CRH under pre-set parameters.
- 7Repurchased shares will be held in treasury for potential cancellation or re-issue, aimed at reducing share capital.