Ahold Delhaize has announced a new €1 billion share buyback programme, commencing next year.
The move is part of the company's financial framework and 'Leading Together' strategy.
It focuses on maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders, the company said.
It will reduce the capital of Ahold Delhaize by cancelling all or part of the common shares acquired through the programme.
Share Repurchases
The programme will be executed by intermediaries through share repurchases in the open market during open and closed periods.
It will be executed within the limits of relevant laws and regulations, the existing authority granted at Ahold Delhaize’s 2019 annual general meeting of shareholders on 10 April 2019, and the authority, if granted, by the 2020 annual general meeting to be held on 8 April 2020, the company added.
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