By: ICN Bureau
Last updated : January 26, 2021 2:48 pm
This new program will replace the existing US$6 billion share repurchase program that was authorized on January 22, 2019 and expires on February 1, 2021.
Linde announced that its Board of Directors has authorized a new share repurchase program for up to US$5.0 billion of Linde's ordinary shares. This new program will replace the existing US$6.0 billion share repurchase program that was authorized on January 22, 2019 and expires on February 1, 2021.
"After maintaining a strong balance sheet, investing in quality growth opportunities and paying and annually increasing the dividend, Linde continues to generate surplus cash," said Chief Executive Officer Steve Angel. "Today's announcement of a new US$ 5 billion stock repurchase program is an opportunity for us to reward shareholders with this surplus."
Pursuant to European Market Abuse Regulation (MAR) requirements, this new share repurchase program must set forth a maximum share capital repurchase amount and an expiration date, which the Board has set at 15% of outstanding shares and July 31, 2023, respectively.