Building materials giant CRH plans to purchase up to another $300 million (€272 million) of shares from investors between now and June 27th in the latest phase of its buyback programme.
The company made the announcement as it confirmed it had bought back about 6.1 million shares in the business – worth $300 million – in the first three months of the year. The shares were acquired at an average discount of 1.43 per cent to the volume weighted average price over the period.
Share buybacks up to Wednesday of this week have seen a total of $3.2 billion (€2.9 billion) in cash returned to shareholders under the programme that has been running since May 2018.
The group has sanction from shareholders to buy back up to 45 million of its shares under the programme to reduce the share capital of CRH.
In a statement, it said that any decision on future buyback programmes would be based on an ongoing assessment of the capital needs of the business and general market conditions.
