Stellantis Reports on Share Buyback Progress Amid Growth Strategy
Stellantis Unveils Latest Share Buyback Updates
AMSTERDAM - Stellantis N.V. (“Stellantis”) recently provided an update regarding its Third Tranche of the 2024 Share Buyback Program. This initiative, originally announced on August 1, is part of a broader strategy to enhance shareholder value. With a budget of up to €1 billion, the buyback will continue throughout the open market until November 29, 2024.
Repurchased Shares Overview
Between September 13 and September 19, Stellantis repurchased a total of approximately 4,952,040 common shares. The price per share averaged around €13.6182, leading to a total expenditure of approximately €67,437,719 during this short span. Below is a detailed summary of the shares repurchased:
| Date | Shares Repurchased | Average Price (€) | Total Amount (€) | Venues |
|---|---|---|---|---|
| 13/09/2024 | 302,615 | €13.5526 | €4,101,221 | MILE |
| 16/09/2024 | 490,000 | €13.6125 | €6,670,128 | CEUX |
| 16/09/2024 | 2,320,000 | €13.5932 | €31,536,158 | MILE |
| 16/09/2024 | 100,000 | €13.5982 | €1,359,824 | TQEX |
| 17/09/2024 | 322,611 | €13.6225 | €4,394,772 | MILE |
| 18/09/2024 | 193,539 | €13.6758 | €2,646,807 | CEUX |
| 18/09/2024 | 1,131,833 | €13.6742 | €15,476,927 | MILE |
| 18/09/2024 | 91,442 | €13.6904 | €1,251,882 | TQEX |
Total Share Buyback Progress
From the start of the buyback program on August 1 to September 19, Stellantis has purchased a total of 52,446,405 common shares at a cost totaling around €746,440,865. This commitment to repurchasing shares underscores Stellantis' dedication to maximizing shareholder returns and solidifying investor confidence.
Company Stock Performance and Future Outlook
As of September 19, 2024, Stellantis holds 133,946,579 shares in treasury, amounting to approximately 3.44% of the total capital, which includes both common shares and special voting shares. The implementation of this share buyback initiative is part of a strategic approach to strengthen its market position while promoting long-term growth.
Stellantis is not just focused on immediate financial maneuvers; it also has a vision for the future. The company is actively working towards its ambitious sustainability goals outlined in the Dare Forward 2030 strategy, aiming for a carbon net zero footprint by 2038. This forward-thinking approach illustrates Stellantis' commitment to innovation and environmental responsibility, looking to adapt and thrive in an evolving automotive landscape.
Continued Commitment to Shareholders
The share buyback program is a clear demonstration of Stellantis' commitment to returning value to its shareholders while pursuing aggressive growth strategies. The transparency and frequency of updates related to these financial maneuvers highlight Stellantis' initiative to keep its investors informed and engaged.
Contact Information
For more inquiries or detailed information regarding the share buyback program, please contact Stellantis at communications@stellantis.com.
Frequently Asked Questions
What is the purpose of the Stellantis Share Buyback Program?
The program aims to enhance shareholder value by repurchasing shares, thus potentially increasing the value of remaining shares.
How much has Stellantis spent on the buyback program to date?
As of the latest reported date, Stellantis has spent approximately €746,440,865 on the repurchase of common shares.
What is the average price per share repurchased?
The average price paid per share for the latest tranche was about €13.6182.
How many shares does Stellantis currently hold in treasury?
Stellantis currently holds 133,946,579 shares in treasury, representing 3.44% of its total issued share capital.
What are Stellantis's long-term goals?
Stellantis aims to achieve carbon net zero mobility by 2038 as part of its Dare Forward 2030 strategic plan.
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