ABB is poised to launch a new share buyback program of up to $1 billion, scheduled to commence on April 1, 2024. This initiative, consistent with ABB's capital allocation principles, aims to uphold a robust investment grade rating, with a maximum of approximately 21.3 million shares set to be repurchased based on current share prices.

Since July 2020, ABB has executed significant share repurchases, totaling about 308 million shares amounting to approximately $9.4 billion, further underlining its commitment to enhancing shareholder value. With a total of 1,882,002,575 issued shares, including those slated for cancellation in Q2 2024, ABB is strategically aligning its capital structure to foster long-term sustainability and growth.

The new share buyback program, slated to run until January 31, 2025, will operate on the second trading line of the SIX Swiss Exchange. Managed independently by a bank appointed by ABB, the program's execution will adhere to stringent regulatory frameworks, including the Ordinance on Financial Market Infrastructures and Market Conduct in Securities and Derivatives Trading.

Investors can expect weekly updates on the progress of the program, accessible through ABB's investor relations website and press releases, ensuring transparency and accountability throughout the process. With a steadfast commitment to driving industrial transformation, ABB continues to leverage its expertise to forge a more sustainable and resource-efficient future.

Source: abb.com