Monday 27 January 2020

CRH's €240m buyback complete

Stock photo: PA
Stock photo: PA
Ellie Donnelly

Ellie Donnelly

Building materials group CRH has completed the latest phase of its share buyback programme, returning a further €240m of cash to shareholders.

Ireland's biggest company has returned some €1.6bn to shareholders since it started repurchasing its shares in May 2018.

In its latest buyback, between August 26, 2019 and January 3, some 7.6 million ordinary shares were repurchased on Euronext Dublin at an average discount of 3.1pc to the volume weighted average price over the period.

CRH has also entered into an arrangement with Davy Stockbrokers to buy back a further €200m in shares.

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The latest buyback started yesterday and will end by March 31.

Robert Gardiner, analyst at Davy Stockbrokers, said that with debt levels "falling rapidly", CRH is "not short of capital allocation options to create value for shareholders".

Irish Independent

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