- CRH (NYSE:CRH) has concluded the latest phase of its share buyback program, returning a further $0.3B of cash to shareholders.
- The company repurchased 8.2M ordinary shares on Euronext Dublin between June 16, 2022 and Sep 19, 2022 at an average discount of 0.93% to the volume weighted average price over the period.
- This brings total cash returned to shareholders under the ongoing share buyback plan to $3.8B since its commencement in May 2018.
- In addition, the company has entered into arrangements with UBS A.G., London Branch to initiate repurchase of ordinary shares on its behalf for a maximum consideration of $300M. The buyback, which began on Sep 20, will end no later than Dec 16, 2022.
- The transaction is aimed at reducing the share capital of CRH and will be conducted within the limitations of the authority granted at AGM on April 28, 2022 to repurchase up to 10% of the company's ordinary shares in issue (being 55,827,503 ordinary shares following the completion of the latest phase of the buyback plan).
- CRH shares are down 3% premarket