Ahold Delhaize Posts Share Buyback Update
Netherlands-based retail group Ahold Delhaize has announced that it repurchased 2,891,287 Ahold Delhaize common shares in the period from 29 January to 2 February 2018.
These shares were repurchased at an average price of €17.99 per share, for a total consideration of €52 million.
These repurchases were made as part of the company's new €2 billion share buyback scheme, which was launched at the start of the year.
The total number of shares repurchased under this programme to date is 11,549,460, for a total consideration of €211.3 million.
Ahold Delhaize says that the purpose of the programme is to reduce capital by cancelling all or part of the common shares acquired by the group, and it expects to be completed before the end of 2018.
Last month, the company posted a 6% increase in comparable sales in the fourth quarter of the year in its home market of the Netherlands, making it the group's best-performing division.
The retail group experienced marginal growth in Central and South-Eastern Europe, and the US, while its Belgian business was flat.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Sarah Harford. Click subscribe to sign up to ESM: The European Supermarket Magazine.