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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ArcelorMittal | EU:MT | Euronext | Ordinary Share |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| -0.79 | -3.65% | 20.87 | 20.86 | 20.87 | 21.51 | 20.56 | 21.50 | 2,073,810 | 14:13:59 |
From Jul 2021 to Jul 2024
By Ed Frankl
ArcelorMittal said Friday that it would launch a new $1 billion share-buyback program, the latest in a series of repurchase programs as it bolsters its cash-return offering to investors.
The steelmaker completed the last of five 2021 buyback programs in December, also worth $1 billion, and said at its fourth-quarter earnings on Thursday that it would start a new buyback based on a favorable outlook for free cash flow in 2022.
The Luxembourg-based company said it was the maximum based on the authorization given by shareholders at its annual general meeting in June 2021, and therefore it would seek out new authorization to repurchase shares at its upcoming shareholder's meeting.
The latest buyback program is expected to be completed in the first half of 2022, subject to market conditions, ArcelorMittal added.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
February 11, 2022 08:20 ET (13:20 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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