London, February 6, 2023
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|
|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.
CNH Industrial (NYSE: CNHI / MI: CNHI) is a world-class equipment and services company. Driven by its purpose of Breaking New Ground, which centers on Innovation, Sustainability and Productivity, the Company provides the strategic direction, R&D capabilities, and investments that enable the success of its global and regional Brands. Globally, Case IH and New Holland Agriculture supply 360° agriculture applications from machines to implements and the digital technologies that enhance them; and CASE and New Holland Construction Equipment deliver a full lineup of construction products that make the industry more productive. The Company’s regionally focused Brands include: STEYR, for agricultural tractors; Raven, a leader in digital agriculture, precision technology and the development of autonomous systems; Flexi-Coil, specializing in tillage and seeding systems; Miller, manufacturing application equipment; Kongskilde, providing tillage, seeding and hay & forage implements; and Eurocomach, producing a wide range of mini and midi excavators for the construction sector, including electric solutions. Across a history spanning over two centuries, CNH Industrial has always been a pioneer in its sectors and continues to passionately innovate and drive customer efficiency and success. As a truly global company, CNH Industrial’s 37,000+ employees form part of a diverse and inclusive workplace, focused on empowering customers to grow, and build, a better world.
For more information and the latest financial and sustainability reports visit: cnhindustrial.com
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