By Ed Frankl 
 

ArcelorMittal said Wednesday that it has completed its fourth share-buyback program of the year and will start a new previously announced $1 billion buyback.

By the close of market on Tuesday, the steel and mining company had repurchased more than 67 million shares for a total value of around 1.88 billion euros ($2.20 billion), at an average price per share of EUR27.91.

The company said it will start Wednesday the new $1 billion buyback it announced at its third-quarter results earlier in November.

The program is expected to be completed by February 2022, and brings the total advance as part of its prospective 2022 capital return to shareholders to $2 billion, it said.

 

Write to Ed Frankl at edward.frankl@dowjones.com

 

(END) Dow Jones Newswires

November 17, 2021 08:48 ET (13:48 GMT)

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