Further share buybacks at CRH are under active consideration
By Maurice Garvey
BUILDING materials giant CRH says further share buybacks are “under active consideration”.
It comes as the company announced it has completed the latest phase of its share buyback programme, returning a further €251m of cash to shareholders.
CRH is located at Belgard Castle on the Belgard Road
Between March 8 and June 24 this year, 5.8 million ordinary shares were repurchased on Euronext Dublin at an average discount of 1.03 per cent to the volume weighted average price over the period, according to a statement from the group.
This brings total cash returned to shareholders under the company’s ongoing share buyback programme to €1.93bn since its commencement in May 2018.
CRH employs around 77,000 people at approximately 3,100 operating locations in 29 countries.
In a trading update in April CRH said it has a “strong pipeline of opportunities” with regards M&A activity.
Ireland’s largest company said it experienced a “positive” start to the year, with like-for-like sales increasing by 3pc in the first three months of 2021.
The company said its earnings before interest, taxation, depreciation, and amortisation (ebitda) for the first half of 2021 are “expected to be well ahead of prior year”.
In the first six months of 2020 CRH reported ebitda of €1.33bn.
