Stellantis Reveals Updates on Recent Share Buybacks
AMSTERDAM - Stellantis N.V. (“Stellantis”) has recently shared new information about its Third Tranche of the 2024 Share Buyback Program. Initially announced on August 1, this effort is part of a larger strategy to increase shareholder value. With a budget capped at €1 billion, this buyback initiative will continue in the open market until November 29, 2024.
Overview of Shares Bought Back
From September 13 to September 19, Stellantis repurchased around 4,952,040 common shares, averaging a cost of about €13.6182 per share. This led to total spending of approximately €67,437,719 during that brief period. Below is a detailed breakdown 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 |
Progress on Overall Share Buybacks
As of September 19, Stellantis has bought back a total of 52,446,405 common shares, costing around €746,440,865 since the buyback program began on August 1. This sustained effort to repurchase shares illustrates Stellantis' resolve to enhance shareholder returns and build investor confidence.
Stock Performance and Future Perspectives
On September 19, 2024, Stellantis held 133,946,579 shares in treasury, which is about 3.44% of its entire capital, including common and special voting shares. This buyback plan is a strategic move to bolster its market position while fostering long-term growth.
Stellantis isn’t just concentrating on short-term financial strategies; they’re also shaping a vision for the future. The company is working hard to meet its ambitious sustainability targets laid out in the Dare Forward 2030 plan, aiming for a carbon net zero footprint by 2038. This proactive approach highlights Stellantis' dedication to innovation and environmental responsibility as it adapts to the changing automotive landscape.
Commitment to Shareholders Continues
The share buyback program reflects Stellantis' clear dedication to delivering value to its shareholders while pursuing strong growth objectives. Regular updates and transparency about these financial activities showcase the company’s commitment to keeping its investors informed and engaged.
Contact Us
If you have questions or need more details about the share buyback program, feel free to reach out to Stellantis at communications@stellantis.com.
Frequently Asked Questions
What’s the aim of Stellantis’ Share Buyback Program?
The purpose is to boost shareholder value by buying back shares, which could lead to increased value of the remaining shares.
How much has Stellantis invested in the buyback program so far?
As of the latest update, Stellantis has invested approximately €746,440,865 in repurchasing common shares.
What’s the average price for shares repurchased in this tranche?
The average price paid per share during the latest buyback portion was roughly €13.6182.
How many shares are currently held by Stellantis in treasury?
Stellantis now has 133,946,579 shares in treasury, which represents 3.44% of its total issued share capital.
What long-term goals is Stellantis pursuing?
Stellantis aims for carbon net zero mobility by 2038, as outlined in its Dare Forward 2030 strategic plan.
