Summary
CRH Public Limited Company (CRH) announced on December 19, 2022, the completion of its latest share buyback phase, returning an additional $0.3 billion to shareholders. This latest repurchase, conducted between September 20 and December 16, 2022, involved 7.7 million ordinary shares bought back on Euronext Dublin at an average discount. This action continues CRH's commitment to returning capital to shareholders, bringing the total returned under the ongoing program to $4.1 billion since May 2018. Furthermore, CRH has initiated a new share repurchase program valued at up to $300 million, commencing December 19, 2022, and concluding by March 30, 2023. These shares will be repurchased on Euronext Dublin through arrangements with BofA Securities Europe SA, with the bank making independent trading decisions within pre-set parameters. The primary objective of this new buyback is to reduce the company's share capital, operating within the authority granted at the April 2022 AGM to repurchase up to 10% of outstanding shares.
Key Highlights
- 1CRH completed a share buyback phase returning $0.3 billion to shareholders.
- 27.7 million ordinary shares were repurchased between September 20 and December 16, 2022.
- 3Total capital returned to shareholders via buybacks since May 2018 now stands at $4.1 billion.
- 4A new share buyback program of up to $300 million has commenced.
- 5The new buyback program will run from December 19, 2022, to March 30, 2023.
- 6Repurchases will occur on Euronext Dublin, with BofA Securities Europe SA acting on CRH's behalf.
- 7The primary purpose of the buyback is to reduce CRH's share capital.