ArcelorMittal: ArcelorMittal announces the commencement of a new share buyback program over the period 2025-2030

7 April 2025, 08:30 CET Following the announced completion of its 85 million shares buyback program on 2 April 2025, ArcelorMittal (the 'Company') announces the commencement of a new share buyback program (the 'Program') with share repurchases to be conducted in tranches that may be announced through May 2030. Repurchases under the first tranche of the Program, which is for up to 10 million shares, will commence immediately, under the authorization given by the annual general meeting of shareholders of 30 April 2024 and subsequently, if applicable, subject to approval at the annual general meeting to be held on 6 May 2025. The actual amount of shares to be repurchased in various tranches pursuant to the Program will depend on the level of post-dividend free cash flow generated over the period (the Company's defined policy is to return a minimum of 50% of post-dividend annual free cash flow), the continued authorization by shareholders and market conditions.The shares acquired under the Program are intended:Primarily to reduce ArcelorMittal's share capital;To meet ArcelorMittal's obligations arising from employee share programs;To meet ArcelorMittal's obligations exchangeable into equity securities; and/orTo meet such other purposes as announced at the time of each tranche.ENDSAbout ArcelorMittalArcelorMittal ...Full story available on Benzinga.com