Stellantis: third tranche of share buybacks launched

(CercleFinance.com) - Stellantis announced on Thursday the launch of the third tranche of its share buyback program for 2024.


The operation is to involve a maximum amount of one billion euros, with acquisitions due to start today and end on November 29 at the latest.

The automotive group explains that it plans to cancel the shares thus acquired, with the exception of a portion earmarked for compensation in the form of share plans for its employees.

This should support the benefits of broadening and strengthening the shareholding culture of our teams, while avoiding dilution", explains the automaker in a press release.

Stellantis had announced in February its intention to implement a share buyback program of up to three billion euros over the 2024 financial year.

The share lost 0.1% on Thursday morning on the Paris Bourse following this announcement, bringing to over 15% its losses since its half-yearly publication a week ago.

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