ABB Launches New Share Buyback Program
ABB Ltd (ABB)
Last abb ltd earnings: 7/25 12:46 am
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US:NYSE Investor Relations:
new.abb.com/investorrelations
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Source: Business Wire
ZURICH--(BUSINESS WIRE)--ABB will launch on April 9, 2021 its previously announced follow-up share buyback program of up to $4.3 billion. Based on the current share price this represents a maximum of approximately 137 million shares. The maximum number of shares that may be repurchased under this new program on any given trading day is 1,543,644.This follow-up program is part of ABB’s plan to return $7.8 billion of cash proceeds from the Power Grids divestment to shareholders and is consistent with the company’s capital structure optimization program. As announced previously, under the initial program ABB repurchased a total of 128,620,589 shares – equivalent to 5.93 percent of its issued share capital at the launch of the program – for a total amount of approximately $3.5 billion. ABB shareholders approved the cancellation of 115 million of these shares at ABB’s 2021 Annual General Meeting (AGM).The total number of ABB’s issued shares is 2,168,148,264 including the shares approve
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