CRH plc has completed the latest phase of its share buyback programme, returning a further US$0.3bn of cash to shareholders. Between 29 February 2024 and 9 May 2024, 3.7m ordinary shares listed on the New York Stock Exchange were repurchased. This brings the total cash returned to shareholders under the ongoing share buyback programme to US$7.6bn since it began in May 2018.
CRH has also announced that it has entered into an arrangement with HSBC Securities (USA) Inc to repurchase ordinary shares listed on the New York Stock Exchange on CRH’s behalf for an aggregate maximum consideration of up to US$0.3bn. The buyback will commence on 10 May 2024 and will end no later than 7 August 2024.
According to CRH, HSBC will conduct the buyback on CRH’s behalf and will make trading decisions under the buyback independently of CRH in accordance with certain pre-set parameters. The maximum number of ordinary shares which may be acquired pursuant to the buyback is 60,000,000. The purpose of the buyback is to reduce the share capital of CRH.
