ABB Ltd. (ABB) is planning to launch a new share buyback program of up to $3 billion, beginning April 2022. The plan is expected to run until the company’s annual general meeting in 2023. ABB manufactures and sells electrification, industrial automation, and robotics and motion products to utilities, industry and transport, and infrastructure customers worldwide. Shares of the company have gained 14.4% over the past year. The plan has been announced post the completion of a previous share repurchase program. With these buybacks, ABB seeks to return to shareholders cash proceeds from the Power Grids divestment of $7.8 billion.  ABB has repurchased shares worth $6.
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