HeidelbergCement will continue with its share buyback programme. The second tranche in the amount of €300 to €350 million is scheduled to start within the first quarter of 2022 and is to be completed by the third quarter 2022 at the latest.
Upon the successful completion of the first tranche in December 2021, HeidelbergCement’s Managing Board decided on 13 January 2022 to cancel all shares that were acquired within the first tranche. The total amount of 5 324 577 shares are corresponding to approximately 2.68% of the share capital and are so far held as treasury shares. Their cancellation reduces the total number of shares to 193 091 900.
The share buyback programme is the first of its kind in the company’s history. It emphasises HeidelbergCement’s increased focus on shareholder returns. The programme, with a total amount of up to €1 billion, was announced on 28 July 2021 and will be carried out in several tranches.
HeidelbergCement will provide regular information on the progress of the share buyback programme on its website, in compliance with the correspondent requirements.
Read the article online at: https://www.worldcement.com/europe-cis/14012022/heidelbergcement-continues-share-buyback-programme/