Linde Announces New $5 Billion Share Repurchase Program
Guildford, UK, January 25, 2021 - Linde plc (NYSE: LIN; FWB: LIN) today announced its Board of Directors has authorized a new share repurchase program for up to US$5.0 billion of Linde's ordinary shares. This new program will replace the existing US$6.0 billion share repurchase program that was authorized on January 22, 2019 and expires on February 1, 2021.
"After maintaining a strong balance sheet, investing in quality growth opportunities and paying and annually increasing the dividend, Linde continues to generate surplus cash," said Chief Executive Officer Steve Angel. "Today's announcement of a new US$ 5 billion stock repurchase program is an opportunity for us to reward shareholders with this surplus."
Pursuant to European Market Abuse Regulation (MAR) requirements, this new share repurchase program must set forth a maximum share capital repurchase amount and an expiration date, which the Board has set at 15% of outstanding shares and July 31, 2023, respectively.
About Linde
Linde is a leading global industrial gases and engineering company with 2019 sales of $28 billion (€25 billion). We live our mission of making our world more productive every day by providing high-quality solutions, technologies and services which are making our customers more successful and helping to sustain and protect our planet.
The company serves a variety of end markets including chemicals & refining, food & beverage, electronics, healthcare, manufacturing and primary metals. Linde's industrial gases are used in countless applications, from life-saving oxygen for hospitals to high-purity & specialty gases for electronics manufacturing, hydrogen for clean fuels and much more. Linde also delivers state-of-the-art gas processing solutions to support customer expansion, efficiency improvements and emissions reductions.
For more information about the company and its products and services, please visit www.linde.com.