Welcome to our dedicated page for Crh Plc news (Ticker: CRH), a resource for investors and traders seeking the latest updates and insights on Crh Plc stock.
CRH Public Limited Company supplies building materials used in infrastructure and construction projects. Company news commonly covers operating and financial results, annual reporting, proxy materials, and shareholder voting matters, along with capital allocation updates such as ordinary share repurchases.
CRH updates also include capital-structure and listing matters. The company completed the cancellation of its London Stock Exchange listings for ordinary shares and 7% preference shares, and its ordinary shares are now solely listed on the New York Stock Exchange under the ticker CRH.
CRH plc has launched a share buyback programme, aiming to repurchase up to $300 million worth of ordinary shares. This initiative follows its 2020 Full Year Results announcement on March 4, 2021. The buyback will take place on Euronext Dublin and will run from March 8, 2021, until no later than June 24, 2021. A maximum of 50,000,000 shares will be repurchased, aimed at reducing share capital. The programme aligns with shareholder approvals and regulatory requirements.
CRH plc, a leading global building materials company, announced significant Board changes as part of its renewal process. Heather Ann McSharry and Lucinda Riches will not seek re-election at the Annual General Meeting on 29 April 2021, stepping down from the Board. Additionally, Senan Murphy, Group Finance Director since 2016, will also retire from the Board during 2021 but will remain in his current role until a successor is appointed. The Chairman acknowledged their contributions and wished them success in their future endeavors.
CRH PLC announced its 2020 full-year results, highlighting a robust performance amid challenging conditions. The company achieved sales revenue of $27.6bn, a 2% decrease year-on-year, while EBITDA rose 5% to $4.6bn, improving the EBITDA margin to 16.8%. Notably, net debt/EBITDA stands at 1.3x, the lowest in a decade. The board increased the full-year dividend by 25% to 115.0c and announced a share buyback program of $0.3bn. Despite uncertain near-term outlook, the CEO expressed confidence in the company's strategic positioning and growth prospects.
CRH plc has appointed Richard Fearon and Lamar McKay as non-executive Directors effective December 3, 2020. Fearon, currently Vice Chairman and Chief Financial Officer at Eaton, brings extensive experience in strategic planning and operational management. McKay, previously Chief Transition Officer at BP, has a wealth of experience in safety and operational risk management. Chairman Richie Boucher highlighted their expertise in capital-intensive industries, which will aid CRH's strategic execution and shareholder value enhancement.
CRH announced the upcoming retirement of Senan Murphy, Group Finance Director, during 2021. The Board is now commencing a search for a successor. Senan will remain in his role until a successor is appointed to ensure a smooth transition and will act as an advisor post-transition. CEO Albert Manifold acknowledged Senan's valuable contributions during his five-year tenure, particularly during a significant period of change for the company.
Ash Grove, a CRH company, is launching a major transformation project at its Port Manatee terminal in Florida to enhance cement import capacity. The initiative will involve installing a new high-capacity ship unloader, upgrading material transfer and electrical systems, and introducing self-loading capabilities. Expected to commence in early 2021 and complete by year-end, this project aims to improve operational efficiency and environmental performance. With positive market fundamentals driven by population and employment growth, the upgrade will position Ash Grove to meet the increasing demand in Florida and South Georgia.