CRH completes second phase of massive share buyback

Building materials group CRH has completed the second phase of its share buyback programme, it announced on Monday, returning a further €350m of cash to shareholders.

The FTSE 250 company said that between 29 August and 18 October, 12.5 million ordinary shares were repurchased on the London Stock Exchange and Euronext Dublin at an average discount of 1.3% to the volume-weighted average price over the period.

“This brings total cash returned to shareholders under our ongoing €1bn share buyback programme to approximately €700m,” the CRH board said in its statement.

“The remaining portion of our buyback programme is under active consideration and further details will be announced in due course.”