ArcelorMittal announces the completion of its third share buyback program

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Rhea-AI Sentiment

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Rhea-AI Summary

ArcelorMittal has successfully completed its third share buyback program, as announced on July 7, 2021. The program, initiated on June 18, 2021, involved the repurchase of 24,458,524 shares at a total cost of approximately €630.36 million (or US$750 million), with an average price per share of €25.77. This strategic move aims to enhance shareholder value and reflects the company's confidence in its financial position. For more details, visit the company's website.

Positive

Completion of share buyback program enhances shareholder value.
Repurchased 24,458,524 shares, indicating confidence in financial strength.
Total value of buyback approximately €630.36 million, strengthening market position.

Negative

None.

News Market Reaction 1 Alert

+0.83% News Effect

On the day this news was published, MT gained 0.83%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

07/07/2021 - 09:30 AM

07 July 2021, 15:30 CET

ArcelorMittal (or the ‘Company’) today announces that it has completed the third share buyback program announced on 18 June 2021 under the authorization given by the annual general meeting of shareholders of 13 June 2020 and 8 June 2021.

By market close on 5 July 2021, ArcelorMittal had repurchased 24,458,524 shares for a total value of approximately €630,358,341.54 (equivalent to US$749,999,853.18) at an approximate average price per share of € 25.7725. All details are available on the Company’s website at: https://corporate.arcelormittal.com/investors/equity-investors/share-buyback-program.