Zaandam, the Netherlands, January 2, 2019 - Ahold Delhaize today commences the €1 billion share buyback program announced on November 13, 2018 and expects to complete the program before the end of 2019.
Maintaining a balanced approach between funding growth in key channels and returning excess liquidity to shareholders is part of Ahold Delhaize's financial framework to support its Leading Together strategy. The purpose of the program is to reduce the capital of Ahold Delhaize, by cancelling all or part of the common shares acquired through the program.
The program will be executed by intermediaries allowing the execution of share repurchases in the open market during open and closed periods. The program will be executed within the limits of relevant laws and regulations, the existing authority granted at Ahold Delhaize's 2018 annual general meeting of shareholders on April 11, 2018 and the authority (if granted) by the annual general meeting on April 10, 2019.
Ahold Delhaize will provide regular updates on the progress of the program by means of press releases.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Ahold Delhaize via Globenewswire