Ahold Delhaize Announces Further Share Buyback
Retailer Ahold Delhaize has announced its latest share buyback, which is part of the €1 billion share buyback programme that was announced in December of last year.
The group repurchased 638,098 common shares in the period from 8 May to 12 May 2017, at an average price of €19.51 per share.
This development brings the total number of shares repurchased under the programme to 18,9914,245, for a total consideration of €376.5 million.
Ahold Delhaize is now over a third of the way through its proposed programme to reduce company capital, which it expects to complete by the end of 2017.
Last week, the company announced a marginal increase in pro forma net sales in its first quarter, recording close to €16 billion worth of net sales for the period. It has also achieved, to date, some €56 million worth of synergy savings, out of a targeted €500 million worth of savings by 2019.
© 2017 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.