ArcelorMittal (NYSE:MT) has completed the first tranche of its 2025–2030 share buyback and started a second tranche. The first tranche repurchased 10 million shares at an average price of €49.32, now held in treasury and to be cancelled. A new tranche for up to 10 million shares begins immediately, in line with the policy to return at least 50% of post-dividend annual free cash flow, subject to shareholder authorization and market conditions. Shares bought back are intended to reduce share capital and meet employee share programme obligations.
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Positive
First tranche repurchased 10 million shares at an average €49.32
Second tranche authorized for up to 10 million additional shares
Policy to return at least 50% of post-dividend annual free cash flow
Repurchased shares intended to reduce ArcelorMittal’s share capital
Negative
Future tranche sizes depend on post-dividend free cash flow levels
Buybacks remain subject to ongoing shareholder authorization and market conditions
Portion of repurchased shares earmarked for employee share programmes
News Market Reaction – MT
+0.90%
+0.90%Session close to close
In the Jun 30 session, MT gained 0.90%, reflecting a mild positive market reaction.
This announcement confirms continued execution of ArcelorMittal’s multi-year buyback, with another 1...
Analysis
This announcement confirms continued execution of ArcelorMittal’s multi-year buyback, with another 10 million-share tranche planned and a policy to return at least 50% of post-dividend free cash flow. Investors should watch cash generation and steel-cycle trends.
Key Figures
First tranche repurchased shares:10 million sharesAverage repurchase price:€49.32 per shareSecond tranche size:up to 10 million shares+3 more
6 metrics
First tranche repurchased shares10 million sharesCompleted first tranche of 2025–2030 buyback programme
Average repurchase price€49.32 per sharePrice paid for first tranche repurchases
Second tranche sizeup to 10 million sharesMaximum shares in new tranche starting immediately
Programme period2025 to May 2030Duration of company share buyback programme
Capital return policyminimum 50% of post-dividend annual free cash flowStated shareholder return framework guiding buybacks
AGM authorization date6 May 2025Shareholder authorization underpinning second tranche
"a new share buyback programme covering the period from 2025 to May 2030"
A share buyback programme is when a company uses its cash to purchase its own shares from the market, reducing the number of shares available to other investors; imagine a bakery buying back coupons so fewer are circulating. It matters because cutting the share count can boost earnings per share and increase each remaining investor’s ownership stake, and it also signals management’s view of the stock while using cash that could have been spent on other priorities.
post-dividend free cash flowfinancial
"depend on the level of post-dividend free cash flow generated over the period"
Post-dividend free cash flow is the cash a company has left after paying its regular operating costs, investing in its business, and distributing dividends to shareholders. Investors watch this number like a household’s leftover money after paying bills and giving out planned gifts — it shows whether dividends are sustainable, and how much remains for debt repayment, new projects, or share buybacks.
share capitalfinancial
"The shares acquired under the Programme are intended to: Reduce ArcelorMittal’s share capital"
Share capital is the total amount of money a company raises by selling pieces of itself, called shares, to investors. It’s like a company’s savings from many owners, which helps fund its growth and operations. This money matters because it shows how much the company has raised from shareholders and how it’s financed its business.
employee share programmesfinancial
"Meet ArcelorMittal’s obligations arising from employee share programmes"
Employee share programmes are plans that let workers buy or receive a company's stock or stock-based awards—often at a discount, as grants, or through options—so employees gain a direct ownership stake. They matter to investors because they tie staff incentives to company performance, like giving teammates a piece of the business; this can boost motivation but also change the number of shares outstanding and influence earnings per share and share price over time.
Further to the announcement on 7 April 2025 of a new share buyback programme covering the period from 2025 to May 2030 (the ‘Programme’), ArcelorMittal (the ‘Company’) today announces the completion of the first tranche of the Programme and the commencement of a second tranche.
The first tranche of the Programme, under which 10 million shares were repurchased at an average purchase price of €49.32 per share, has now been completed in full. The repurchased shares are currently being held in treasury and will be cancelled in due course.
A second tranche of the Programme for up to 10 million shares will commence immediately, under the authorization given by the annual general meeting of shareholders of 6 May 2025.
As communicated at the launch of the Programme, share repurchases are being conducted in tranches through to May 2030. The actual amount of shares to be repurchased in the various tranches will continue to depend on the level of post-dividend free cash flow generated over the period (the Company’s defined policy is to return a minimum of 50% of post-dividend annual free cash flow), the continued authorization by shareholders, and market conditions.
The shares acquired under the Programme are intended to:
Reduce ArcelorMittal’s share capital;
Meet ArcelorMittal’s obligations arising from employee share programmes.
ENDS
About ArcelorMittal
ArcelorMittal is one of the world’s leading integrated steel and mining companies with a presence in 60 countries and primary steelmaking operations in 14 countries. It is the largest steel producer in Europe, among the largest in the Americas, and has a growing presence in Asia through its joint venture AM/NS India. ArcelorMittal sells its products to a diverse range of customers including the automotive, engineering, construction and machinery industries, and in 2025 generated revenues of $61.4 billion, produced 55.6 million metric tonnes of crude steel and 48.8 million tonnes of iron ore. Our purpose is to produce smarter steels for people and planet. Steels made using innovative processes which use less energy, emit significantly less carbon and reduce costs. Steels that are cleaner, stronger and reusable. Steels for the renewable energy infrastructure that will support societies as they transform through this century. With steel at our core, our inventive people and an entrepreneurial culture at heart, we will support the world in making that change.
ArcelorMittal is listed on the stock exchanges of New York (MT), Amsterdam (MT), Paris (MT), Luxembourg (MT) and on the Spanish stock exchanges of Barcelona, Bilbao, Madrid and Valencia (MTS).
What did ArcelorMittal (MT) announce about its 2025–2030 share buyback on 30 June 2026?
ArcelorMittal announced completion of the first tranche and the start of a second tranche in its 2025–2030 share buyback. According to ArcelorMittal, the programme runs through May 2030 and is executed in multiple tranches, subject to free cash flow and approvals.
How many shares did ArcelorMittal (MT) repurchase in the first tranche of its buyback programme?
ArcelorMittal repurchased 10 million shares in the first tranche at an average price of €49.32. According to ArcelorMittal, these shares are currently held in treasury and are expected to be cancelled in due course, reducing the company’s share capital over time.
What are the details of the second tranche of ArcelorMittal (MT) share buyback starting June 2026?
The second tranche authorizes buybacks of up to 10 million shares, commencing immediately. According to ArcelorMittal, this tranche operates under authorization from the 6 May 2025 annual general meeting and forms part of the broader 2025–2030 buyback programme.
What is ArcelorMittal’s (MT) capital return policy for the 2025–2030 buyback period?
ArcelorMittal’s defined policy is to return a minimum of 50% of post-dividend annual free cash flow. According to ArcelorMittal, the actual volume of shares repurchased in each tranche will depend on this free cash flow, shareholder authorization, and market conditions.
How will the ArcelorMittal (MT) share buyback affect its share capital and employees?
Shares acquired under the programme are intended to reduce ArcelorMittal’s share capital and meet employee share obligations. According to ArcelorMittal, treasury shares from buybacks will be cancelled in due course, while some support employee share programmes.
Until when will ArcelorMittal’s (MT) share buyback programme run and how is it structured?
The share buyback programme covers the period from 2025 to May 2030 and is executed in tranches. According to ArcelorMittal, each tranche’s size will reflect post-dividend free cash flow, ongoing shareholder authorization, and prevailing market conditions.
