Ahold Delhaize has begun a 2 billion-euro share buyback program revealed last November, which the Zandaam, Netherlands-based retail conglomerate expects to complete before the end of 2018. The company’s previous 1 billion-euro share buyback program was successfully brought to a close on Dec. 29, 2017.
Ahold Delhaize intends to bolster its Better Together strategy through a financial framework requiring it, in part, to maintain a balanced approach between funding growth in key channels and returning excess liquidity to shareholders. The program’s aim is to reduce the company’s capital by canceling all or part of the common shares acquired thereby.
The program will be carried out by intermediaries permitting the execution of share repurchases in the open market during open and closed periods. It will be executed within the limits of relevant laws and regulations, the existing authority granted by Ahold Delhaize shareholders in their annual general meeting in April 2017, and such authority to be granted in the annual general meeting scheduled for this coming April 11.
Ahold Delhaize will provide periodic updates on the program’s progress.