Zaandam, the Netherlands, January 2, 2018 - Ahold Delhaize today commences the €2 billion share buyback program announced on November 8, 2017 and expects to complete the program before the end of 2018. The former €1 billion share buyback program was successfully completed on December 29, 2017.
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 Better 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 by Ahold Delhaize shareholders in their annual general meeting on April 12, 2017 and such authority to be granted in their annual general meeting on April 11, 2018.
Ahold Delhaize will provide regular updates on the progress of the program by means of press releases, which are also available at www.aholddelhaize.com/en/media/.
Source: Ahold Delhaize