(IN BRIEF) ArcelorMittal has launched a new share buyback program following the successful completion of an earlier 85 million share buyback. The new program, set to continue through May 2030, involves purchasing shares in multiple tranches, with the initial tranche authorizing up to 10 million shares and commencing immediately. The program is subject to previous shareholder authorization from the meeting on 30 April 2024 and may require further approval in the meeting on 6 May 2025. The scale of the repurchase will be determined by the company’s post-dividend free cash flow, as it aims to return at least 50% of this cash flow to shareholders, provided that market conditions and shareholder approvals remain favorable. The acquired shares will be used to reduce share capital, meet employee share program obligations, settle commitments tied to exchangeable equity securities, or fulfill other designated purposes as announced with each tranche.
(PRESS RELEASE) LUXEMBOURG, 7-Apr-2025 — /EuropaWire/ — Following the completion of its 85 million share buyback program on 2 April 2025, ArcelorMittal has announced the initiation of a new share repurchase program. This new program will see shares being bought back in several tranches, with further repurchase details to be announced up to May 2030. The first tranche, which authorizes the repurchase of up to 10 million shares, will start immediately. This is based on the mandate provided at the annual general meeting held on 30 April 2024 and may later require confirmation at the upcoming annual general meeting on 6 May 2025. The total volume of shares repurchased across the various tranches under this program will depend on the amount of post-dividend free cash flow generated during this period. In accordance with the company’s policy, a minimum of 50% of the annual post-dividend free cash flow is earmarked for return to shareholders, contingent on continued shareholder authorization and prevailing market conditions.
The shares acquired through this program are intended primarily to reduce ArcelorMittal’s share capital, to fulfill obligations related to employee share programs, to cover commitments for exchangeable equity securities, and to support any additional purposes that may be specified when each tranche is announced.
ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 15 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2024 generated revenues of $62.4 billion, produced 57.9 million metric tonnes of crude steel and, 42.4 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change. ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
Investor relations:
General: +44 207 543 1128
Retail: +44 203 214 2893
SRI: +44 203 214 2801
Bonds/Credit: +33 1 71 92 1026
Corporate communications:
Email: press@arcelormittal.com
Paul Weigh
+44 203 214 2419
———-
First published in this link of EuropaWIRE.
