LafargeHolcim will start its share buy-back program of up to $1.03bn (CHF 1bn) over 2017-2018 on June 1, 2017.
The program that was initially announced at the Capital Markets Day on November 18, 2016 and authorized by the board on January 26, 2017.
UBS is the execution agent to make the share repurchases on behalf of LafargeHolcim. The second trading line is expected to remain open until December 31, 2018.
Regular updates on the program will be published on LafargeHolcim's website.
At the end of the buy-back program, the board will propose to the LafargeHolcim annual general meeting to approve the cancellation of the repurchased shares and to reduce LafargeHolcim's share capital accordingly.
"??Consistent with the Group’s strict capital allocation discipline and commensurate with retaining a solid investment grade credit rating, the commitment to shareholders remains unchanged: LafargeHolcim will maintain an attractive dividend policy as well as returning excess cash to shareholders through share buy-backs or special dividends. This share buy-back program reflects the group’s confidence in the strength of its portfolio and ability to generate cash," the company said in a statement.
