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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| ABB Ltd | NYSE:ABB | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 37.13 | 0 | 01:00:00 |
From Apr 2021 to Apr 2024
By Ed Frankl
ABB Ltd. said Thursday that it plans to launch a new share-buyback program worth up to $3 billion.
The latest buyback, announced at ABB's 2022 annual general meeting, follows the completion of its 2021-22 program, which repurchased shares for around $3.1 billion, the Zurich-based industrial company said.
The $3 billion program would begin in April and run until the 2023 AGM, ABB said.
The company said the buyback would exceed the remaining $1.2 billion it intended to return to shareholders from the $7.8 billion net proceeds of its Power Grids divestment to Hitachi that completed in July 2020.
ABB has repurchased shares for a total of around $6.6 billion since then, it said.
The company added that it will request shareholders approve the cancellation of the remaining shares purchased under the 2021-22 program, as well as those purchased under this new program at its 2023 AGM.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
March 24, 2022 13:21 ET (17:21 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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