ABB: new share buyback program
(CercleFinance.com) - ABB has announced that its board of directors has approved a new share buyback program of up to 4.
3 billion dollars, in line with its intention to return 7.8 billion dollars from the divestment of Power Grids to shareholders.
The program is expected to be launched in April 2021 and run until the group's 2022 AGM. ABB intends to ask shareholders to approve the cancellation of repurchased shares at this meeting.
In addition, it intends to buy back up to 35 million shares until the 2022 AGM, primarily for use in its employee shareholding plans. It currently holds approximately 163 million of its own shares.
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3 billion dollars, in line with its intention to return 7.8 billion dollars from the divestment of Power Grids to shareholders.
The program is expected to be launched in April 2021 and run until the group's 2022 AGM. ABB intends to ask shareholders to approve the cancellation of repurchased shares at this meeting.
In addition, it intends to buy back up to 35 million shares until the 2022 AGM, primarily for use in its employee shareholding plans. It currently holds approximately 163 million of its own shares.
Copyright (c) 2021 CercleFinance.com. All rights reserved.