LafargeHolcim to start share buy-back programme
Published by Rebecca Bowden,
LafargeHolcim has announced that, on 1 June 2017, it will start its share buy-back programme of up to CHF1 billion over 2017 – 2018.
The programme was initially announced at the Capital Markets Day on 18 November 2016, and authorized by the Board of Directors on 26 January 2017. It will be conducted using a second trading line on the SIX Swiss Exchange. UBS AG has been mandated as the execution agent to make the share purchases on behalf of LafargeHolcim. The second trading line is expected to remain open until 31 December 2018.
At the end of the buy-back scheme, the Board of Directors will propose to the LafargeHolcim Annual General Meeting to approve the cancellation of the repurchased shares and to reduce LafargeHolcim’s share capital accordingly.
Consistent with the Group’s strict capital allocation discipline and commensurate with retaining a solid investment grade credit rating, the commitment to shareholders remains unchanged: LafargeHolcim will maintain an attractive dividend policy as well as returning excess cash to shareholders through share buy-backs or special dividends. This share buy-back program reflects the Group’s confidence in the strength of its portfolio and ability to generate cash.
Read the article online at: https://www.worldcement.com/europe-cis/31052017/lafargeholcim-to-start-share-buy-back-programme/
You might also like
Opportunities & Challenges For UK Cement
Dr Diana Casey, Mineral Products Association, gives an overview on the current state of the British cement industry and what benefits and hurdles lie ahead for operators in the UK.