Tenaris Finalizes USD700 Million Share Buyback Initiative
Tenaris S.A. (NYSE and Mexico: TS and EXM Italy: TEN) proudly announced the successful conclusion of its USD700 million Share Buyback Program. This strategic move underscores the company’s commitment to shareholder value and confidence in its continued growth prospects.
Overview of the Share Buyback Program
The Share Buyback Program, which commenced on November 11, 2024, and concluded on March 4, 2025, saw the company repurchase a staggering 36,862,132 ordinary shares. This accounted for approximately 3.17% of the total issued share capital at the program’s outset, with a total cost nearing €668 million, roughly equivalent to USD700 million.
Impact on Company Holdings
As of the completion date, Tenaris amassed a total of 90,762,598 ordinary shares in its treasury, which includes 53,900,466 shares acquired from its previous USD 1.2 billion Share Buyback Program. This represents about 7.81% of the total issued share capital, positioning the company favorably in the market.
Future Plans for Treasury Shares
Looking ahead, Tenaris has plans to cancel the treasury shares obtained through this recent buyback program in a timely manner. This initiative is expected to enhance the overall value for its investors and reinforce its financial position.
About Tenaris
Tenaris stands as a leader in the global supply of steel tubes and related services, serving the energy sector and various industrial applications. The company is renowned for its innovative solutions and strategic initiatives aimed at optimizing performance and efficiency across its operations.
Company Contact Information
For further inquiries or details about Tenaris, you can reach out to Giovanni Sardagna at Tenaris. Contact is available at 1-888-300-5432 or visit the official website at www.tenaris.com.
Frequently Asked Questions
What is the purpose of the Share Buyback Program?
The Share Buyback Program aims to return wealth to shareholders and signal confidence in the company’s future performance.
How many shares did Tenaris repurchase during the program?
Tenaris repurchased a total of 36,862,132 ordinary shares throughout the duration of the program.
What percentage of share capital does Tenaris hold in treasury now?
Tenaris holds approximately 7.81% of its total issued share capital in treasury shares post-program.
Will Tenaris cancel the shares it bought back?
Yes, Tenaris intends to cancel the treasury shares acquired during the buyback program.
Where can I find more information about Tenaris?
Additional company information can be found on Tenaris's official website, which includes details about its buyback initiatives and broader corporate strategies.