ArcelorMittal Closes Fourth, Launches Fifth Share-Buyback Program of 2021
November 17 2021 - 9:03AM
Dow Jones News
By Ed Frankl
ArcelorMittal said Wednesday that it has completed its fourth
share-buyback program of the year and will start a new previously
announced $1 billion buyback.
By the close of market on Tuesday, the steel and mining company
had repurchased more than 67 million shares for a total value of
around 1.88 billion euros ($2.20 billion), at an average price per
share of EUR27.91.
The company said it will start Wednesday the new $1 billion
buyback it announced at its third-quarter results earlier in
November.
The program is expected to be completed by February 2022, and
brings the total advance as part of its prospective 2022 capital
return to shareholders to $2 billion, it said.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
November 17, 2021 08:48 ET (13:48 GMT)
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