ABB Ltd: ABB plans to launch new share buyback of up to $1 billion following completion of 2023–2024 program
Through this buyback program, ABB repurchased a total of 21,387,687 shares – equivalent to 1.09 percent of its issued share capital at launch of the buyback program – for a total amount of approximately $0.83 billion over the past 12 months.
- Through this buyback program, ABB repurchased a total of 21,387,687 shares – equivalent to 1.09 percent of its issued share capital at launch of the buyback program – for a total amount of approximately $0.83 billion over the past 12 months.
- ABB’s Board of Directors intends to use the capital band approved at the 2023 Annual General Meeting to cancel all shares repurchased under the 2023–2024 share buyback program.
- Consistent with ABB’s capital allocation principles, the Board of Directors today approved a new share buyback program for capital reduction purposes of up to $1 billion.
- ABB intends to also use the capital band for the cancellation of the shares repurchased under this new program.