The launch of any programme is subject to, and shall comply with, shareholder approval of CRH’s general authority to repurchase ordinary shares at CRH’s upcoming annual general meeting.
The repurchase programme is expected to complete over the next 12 months, though the actual timing of completion will be based on an ongoing assessment of the capital needs of the business and general market conditions.
Further details in relation to the proposed share repurchase programme will be announced in due course.
Albert Maniold, chief executive of CRH, said: “Our strong balance sheet and cash flow generation provides us with this opportunity to return excess cash to shareholders, while at the same time continuing to invest in our business and execute our strategic growth initiatives.
“We remain committed to our progressive dividend policy and our investment grade rating. This repurchase programme demonstrates management’s confidence in the outlook for our business, our continued strong cash generation and our flexibility to deliver value to shareholders.”
