Nucor has launched a $3 billion share buyback programme, Kallanish reports.

The new programme supersedes the previous $2 billion programme, which began in 2018 and led the company buying back about $1.55 billion of its common stock. 

“The company expects share repurchases will be made from time to time in the open market at prevailing market prices or through private transactions or block trades,” Nucor says. “The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors.”

As of Friday morning, Nucor’s price per share was $100.80.