Ahold Delhaize has completed more than €70 million of its proposed €1 billion share buyback, the retailer reported Tuesday.
The total number of repurchased shares equals 3,540,266 common shares.
In the week of 23 to 27 January, the company purchased 1,213,909 additional shares, at an average price of €19.94 per share, a total consideration of €24.2 million.
The share buyback programme was originally announced on 7 December, 2016 as part of the retailer's Capital Markets day, and officially launched 9 January.
The purpose of the share buyback programme is to reduce the capital of Ahold Delhaize, by cancelling all or part of the common shares acquired through the programme.
© 2017 European Supermarket Magazine – your source for the latest retail news. Article by Karen Henderson. Click subscribe to sign up for ESM: The European Supermarket Magazine.
