CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces that it has commenced a second tranche of $50 million share buyback (the “Tranche”) in the framework of its $300 million share buyback program previously announced on July 29, 2022 (the “Program”). CNH Industrial has entered into a non-discretionary arrangement with a financial intermediary to conduct this second Tranche of the Program. Under this agreement, purchases may continue during any closed periods of the Company in accordance with the applicable regulations. The purchases will be executed on Euronext Milan and on multilateral trading facilities (MTFs) in compliance with the Market Abuse Regulation and the terms and conditions of the existing authority granted by the general meeting of shareholders on April 13, 2022.
On February 3, 2023, the Company completed the following transaction under the Tranche, reported in aggregate, based on automatic orders placed with the Company’s broker (who has made its trading decisions as to the timing of the purchases independently of the Company and on the basis of instructions given before the commencement of the Company’s closed period under the applicable regulations):
Date | Number of common shares purchased | Average price per share excluding fees | Consideration excluding fees | Consideration (*) excluding fees |
(€) | (€) | ($) | ||
February 3, 2023 | 166,000 | 14.8383 | 2,463,157.80 | 2,693,955.69 |
(*) All translations determined from Euro to US Dollar at the exchange rate reported by the European Central Bank on the date of each purchase.
As of February 3, 2023, the Company currently holds 20,159,225 common shares in Treasury.
Details of the transaction described in the table above, including the regulated markets where the purchases were made, are available on the Company’s corporate website under the Buyback Programs section at the following address: bit.ly/CNHI_Buyback.
As previously announced, the Company’s Board of Directors intends to recommend to the Company’s shareholders an annual cash dividend of €0.36 per common share, totaling approximately €483 million (~$511 million). The proposed dividend remains subject to Board and shareholder approval. If shareholders approve the annual dividend at the Annual General Meeting on April 14, 2023, it is anticipated that the record date for the dividend will be April 25, 2023, with an ex-dividend date of April 24, 2023.
London, February 6, 2023