Ahold Delhaize commences 1B euros share buyback program

ZAANDAM, The Netherlands — Ahold Delhaize will buy back $1 billion euros worth of its stock. The program is expected to be completed by the end of this year.

According to Ahold Delhaize, the program is intended to reduce the company’s capital by cancelling all or part of the common shares acquired through the program.

The share buyback is part of Ahold Delhaize’s Better Together strategy. The company will provide updates on the status of the share buyback program throughout the year.

In the United States, Ahold Delhaize is the parent of Stop and Shop, Food Lion, Giant and more.