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ArcelorMittal Announces Completion of $1 Billion Share Repurchase Program

Business and Finance
ArcelorMittal Announces Completion of $1 Billion Share Repurchase Program

The world's second-largest steelmaker, ArcelorMittal, today announced the completion of a $1 billion share buyback program announced on February 11, 2022, pursuant to authorization given by the AGM on June 8, 2021.

At market close on April 25, 2022, ArcelorMittal purchased 31,751,960 shares for a total of EUR 910,760,633.77 (equivalent to USD 999,999,973.17) at an approximate average price per share of EUR 28.68.

ArcelorMittal is the world's leading steel and mining company with a presence in 60 countries and major steel plants in 16 countries.

In 2021, ArcelorMittal's revenue was $76.6 billion, steel production was 69.1 million metric tons, and iron ore production was 50.9 million metric tons.

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