Autoliv Retires Repurchased Shares, Decreases Number of Issued Shares

Rhea-AI Summary

Autoliv (NYSE: ALV), the global leader in automotive safety systems, has announced a reduction in its total number of issued shares. As of September 30, 2024, the company's issued shares of common stock stand at 83,487,293, with 78,750,609 shares outstanding. This change resulted from the retirement of 1,329,322 repurchased shares during the quarter.

Autoliv now holds 4,736,684 shares of common stock in treasury, which have no voting rights or rights to participate in distributions under Delaware law. Each outstanding share of common stock is entitled to one vote. This information was disclosed in compliance with the Swedish Financial Instruments Trading Act.

Positive

• Reduction in total number of issued shares, potentially increasing value per share
• Retirement of 1,329,322 repurchased shares, indicating a share buyback program

Negative

• None.

Insights

Financial Analyst

Autoliv's retirement of 1,329,322 repurchased shares is a strategic move that impacts the company's capital structure. This action reduces the total number of issued shares to 83,487,293, with 78,750,609 outstanding. The decrease in share count can potentially lead to:

• Increased earnings per share (EPS), as profits are distributed among fewer shares
• Enhanced shareholder value, as each remaining share represents a larger ownership stake
• Improved return on equity (ROE), a key metric for investors

However, the impact on stock price may be , as this was likely an expected outcome of the ongoing share repurchase program. The 4,736,684 treasury shares held by Autoliv provide flexibility for future corporate actions without immediate dilution. Overall, this move aligns with shareholder-friendly capital management practices but doesn't significantly alter the company's fundamental outlook.

STOCKHOLM, Sept. 30, 2024 /PRNewswire/ -- Autoliv, Inc. (NYSE: ALV) (SSE: ALIVsdb), the worldwide leader in automotive safety systems, today announced that as of September 30, 2024, the total number of issued shares of common stock is 83,487,293 of which 78,750,609 shares are outstanding. 

Autoliv retired 1,329,322 shares of common stock that had been repurchased during the quarter which resulted in a decrease in the issued shares.

The Company now has a total of 83,487,293 issued shares of common stock of which 78,750,609 shares are outstanding. Each share of outstanding common stock is entitled to one vote. After the retirement of the repurchased shares, Autoliv holds 4,736,684 shares of common stock in treasury which have no voting rights or rights to participate in distributions under Delaware law.

This information is of such character that Autoliv, Inc. is obliged to disclose in accordance with the Swedish Financial Instruments Trading Act (Sw. lagen (1991:980) om handel med finansiella instrument). The information was distributed for disclosure, through the agency of the contact persons set out below, on September 30, 2024, 08:00 CET.

Inquiries: 

Investors & Analysts: ir@autoliv.com

Anders Trapp, Tel +46 (0)8 587 206 71 or Henrik Kaar, Tel +46 (0)8 587 206 14

Media: media@autoliv.com

Gabriella Etemad, Tel +46 (0)8 58 720 602 or Emelie Ericson +46 (0)8 58 720 635

About Autoliv

Autoliv, Inc. (NYSE: ALV; Nasdaq Stockholm: ALIV.sdb) is the worldwide leader in automotive safety systems. Through our group companies, we develop, manufacture and market protective systems, such as airbags, seatbelts, and steering wheels for all major automotive manufacturers in the world as well as mobility safety solutions, such as pedestrian protection, connected safety services and safety solutions for riders of powered two wheelers. At Autoliv, we challenge and re-define the standards of mobility safety to sustainably deliver leading solutions. In 2023, our products saved  35,000 lives and reduced more than 450,000 injuries.

Our 70,000 associates in 25 countries are passionate about our vision of Saving More Lives and quality is at the heart of everything we do. We drive innovation, research, and development at our 14 technical centers, with their 20 test tracks. Sales in 2023 amounted to $10.5 billion. For more information go to www.autoliv.com.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/autoliv/r/autoliv-retires-repurchased-shares--decreases-number-of-issued-shares,c4043757

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Release

 

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SOURCE Autoliv

FAQ

How many shares of Autoliv (ALV) are outstanding as of September 30, 2024?

As of September 30, 2024, Autoliv has 78,750,609 outstanding shares of common stock.

How many shares did Autoliv (ALV) retire in the quarter ending September 30, 2024?

Autoliv retired 1,329,322 shares of common stock that had been repurchased during the quarter.

What is the total number of issued shares for Autoliv (ALV) after the retirement of repurchased shares?

After retiring the repurchased shares, the total number of issued shares of common stock for Autoliv is 83,487,293.

How many treasury shares does Autoliv (ALV) hold after the share retirement?

After the retirement of repurchased shares, Autoliv holds 4,736,684 shares of common stock in treasury.