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ArcelorMittal (MT) completes 10M share buyback and launches new tranche

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(Neutral)
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(Neutral)
Form Type
6-K

Rhea-AI Filing Summary

ArcelorMittal has completed the first tranche of its 2025–2030 share buyback programme and is immediately starting a second tranche. The first tranche saw 10 million shares repurchased at an average price of €49.32 per share; these shares are held in treasury and will be cancelled in due course.

The second tranche covers up to 10 million shares under authorization granted at the 6 May 2025 annual general meeting. Buybacks in each tranche depend on post-dividend free cash flow, with a stated policy to return at least 50% of post-dividend annual free cash flow, continued shareholder authorization, and market conditions.

The shares acquired are intended to reduce ArcelorMittal’s share capital and meet obligations under employee share programmes. In 2025, ArcelorMittal generated revenues of $61.4 billion, produced 55.6 million tonnes of crude steel and 48.8 million tonnes of iron ore.

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Insights

ArcelorMittal advances a multi-year buyback, signalling ongoing capital returns.

ArcelorMittal has finished repurchasing 10 million shares in the first tranche of its 2025–2030 buyback programme and is launching a second tranche of up to 10 million shares. The repurchased shares are held in treasury and will be cancelled, directly shrinking share count once completed.

Management links the scale of each tranche to post-dividend free cash flow and a policy to return at least 50% of post-dividend annual free cash flow. This ties capital returns to the company’s ability to generate cash while maintaining dividends, and keeps flexibility through shareholder authorization and market conditions.

The programme’s objectives combine structural capital reduction with support for employee share programmes, balancing shareholder returns and incentive needs. Future disclosures about subsequent tranches through May 2030 will show how consistently ArcelorMittal generates cash and maintains its stated capital return policy over the full programme period.

First tranche shares repurchased 10 million shares Completed first tranche of 2025–2030 buyback programme
Average repurchase price €49.32 per share Average price paid in first tranche buyback
Second tranche size Up to 10 million shares Planned maximum for second tranche of programme
Capital return policy Minimum 50% of post-dividend annual free cash flow Stated policy guiding buyback tranches
2025 revenue $61.4 billion ArcelorMittal revenues in 2025
2025 crude steel production 55.6 million tonnes Crude steel produced in 2025
2025 iron ore production 48.8 million tonnes Iron ore produced in 2025
share buyback programme financial
"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.
treasury financial
"The repurchased shares are currently being held in treasury and will be cancelled"
The treasury is the department or area within a government or organization responsible for managing its money, finances, and financial strategies. It handles tasks like collecting revenue, paying bills, and planning for future financial needs, much like a household manages its budget. For investors, understanding the treasury is important because it influences interest rates, government spending, and overall economic stability.
post-dividend free cash flow financial
"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.
annual general meeting of shareholders financial
"under the authorization given by the annual general meeting of shareholders of 6 May 2025"
employee share programmes financial
"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.
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Form 6-K: How Foreign Companies Report to the SEC →

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
—————————
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
—————————
Dated June 30, 2026

Commission File Number: 001-35788

ARCELORMITTAL
(Translation of registrant’s name into English)

24-26, Boulevard d’Avranches
L-1160 Luxembourg
Grand Duchy of Luxembourg
(Address of principal executive office)

Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.

Form 20-F ☑        Form 40-F ☐



    

  
 





On June 30, 2026, ArcelorMittal published the press release attached hereto as Exhibit 99.1 and hereby incorporated by reference into this report on Form 6-K.


Exhibit Index

Exhibit No.Description

Exhibit 99.1
ArcelorMittal announces commencement of the second tranche of its 2025 to 2030 share buyback programme
  
 





SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

ARCELORMITTAL

Date 30 June 2026


By: /s/ Henk Scheffer    
Name: Henk Scheffer
Title: Company Secretary & Group Compliance & Data Protection Officer



  
 





Exhibit 99.1
image_0a.jpg

press release

ArcelorMittal announces commencement of the second tranche of its 2025 to 2030 share buyback programme

30 June 2026, 10:15 CET

Further to the announcement on 7 April 2025 of a new share buyback programme (https://corporate.arcelormittal.com/media/news/regulatory-news/arcelormittal-announces-the-commencement-of-a-new-share-buyback-program-over-the-period-2025-2030) 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,
Page 1 of 2

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).
   
http://corporate.arcelormittal.com/  

ArcelorMittal Investor Relations contact information
General 
+44 20 7543 1128 
Retail 
+44 20 3214 2893 
Bonds/Credit 
+33 157 955 035 

ArcelorMittal Corporate Communications contact information
Paul Weigh 
 
Tel: 
+44 20 3214 2419 
E-mail
press@arcelormittal.com 

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Source: View Original Filing on SEC EDGAR

FAQ

What did ArcelorMittal (MT) announce in this Form 6-K?

ArcelorMittal announced it has completed the first tranche of its 2025–2030 share buyback programme and is starting a second tranche. The first tranche repurchased 10 million shares at an average price of €49.32, with shares held in treasury for later cancellation.

How large are the first and second tranches of ArcelorMittal's buyback?

The first tranche repurchased 10 million shares at an average price of €49.32 per share. The second tranche will cover up to 10 million shares, commencing immediately under authorization granted at the annual general meeting of shareholders held on 6 May 2025.

What is the time frame of ArcelorMittal's 2025–2030 share buyback programme?

The share buyback programme covers the period from 2025 to May 2030. Repurchases are conducted in multiple tranches over this timeframe, with the actual amount bought in each tranche depending on post-dividend free cash flow, shareholder authorization, and prevailing market conditions.

How will ArcelorMittal use the shares repurchased under the programme?

The shares acquired under the programme are intended to reduce ArcelorMittal’s share capital and to meet obligations arising from employee share programmes. Repurchased shares from the first tranche are currently held in treasury and will be cancelled in due course as part of the capital reduction.

What financial and operating scale did ArcelorMittal report for 2025?

For 2025, ArcelorMittal reported revenues of $61.4 billion, production of 55.6 million tonnes of crude steel, and 48.8 million tonnes of iron ore. These figures highlight the company’s large global steel and mining operations across multiple regions and customer industries.

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