Irish construction giant CRH said on Monday that it had recommenced its $300 million (€251.7 million) share buyback programme.
The purpose of the programme, which was halted last year in the face of pandemic-related uncertainty, is to reduce the share capital of CRH.
Société Générale has been appointed to conduct the buyback on CRH’s behalf, and will buy back up to $300 million in shares between now and June 24th.
Last week CRH announced its full-year results for 2020 which showed overall sales dipped by 2 per cent to $27.6 billion (€23 billion ).
READ MORE
Earnings before interest, tax, depreciation and amortisation, however, rose 3 per cent to $4.6 billion as the company cut costs and moved to mitigate the financial impact of the pandemic.
