HeidelbergCement will continue its share buyback programme earlier than originally planned. The second tranche in the amount of EUR300-350m is scheduled to start in the 1Q22 and to be completed by the 3Q22 at the latest, says the company in a statement.
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 per cent of the share capital and were 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 highlights the company’s increased focus on shareholder returns. The programme with a total amount of up to EUR1bn was announced on 28 July 2021 and will be carried out in several tranches.
