CRH Commences New Phase Of Share Buyback Program With $0.3B Agreement With BNP Paribas Securities
Portfolio Pulse from Benzinga Newsdesk
CRH has announced a new phase of its share buyback program, entering into an agreement with BNP Paribas Securities Corp. to repurchase up to $0.3 billion worth of its ordinary shares listed on the New York Stock Exchange. This phase will run from August 8, 2024, to November 6, 2024. Since May 2018, CRH has returned a total of $7.9 billion to shareholders through its buyback program.
August 08, 2024 | 6:16 am
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CRH has initiated a new phase of its share buyback program, agreeing with BNP Paribas Securities Corp. to repurchase up to $0.3 billion worth of shares. This move is likely to positively impact CRH's stock price in the short term as it signals confidence in the company's financial health and commitment to returning value to shareholders.
Share buybacks generally indicate that a company believes its stock is undervalued and is a good investment. This can lead to a positive short-term impact on the stock price as it reduces the number of shares outstanding, potentially increasing earnings per share and investor confidence.
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