Closed out Stellantis (STLA) Call Options
Loading up on actual shares instead
Stellantis continues to maintain a strong capital allocation framework, striking a great balance between capital expenditures, dividends, buybacks and debt paydown. Even after all of that, there is still residual cash, adding to the already huge cash-pile they have on their balance sheet.
STLA currently trades at a P/B of 0.77x and a P/Cash 1.04x.
You can view their stock repurchase history in the below link.
On February 22, 2023, Stellantis announced a Share Buyback Program (the “Program”) of up to €1.5 billion, to be executed on the market with the intent to subsequently cancel the common shares acquired through the Program.
Following completion of the first two tranches of €500 million each, on September 11, 2023 the Company announced the signature of a share buyback agreement with an independent investment firm that makes its trading decisions concerning the timing of purchases independently of Stellantis. This agreement covers a maximum repurchase amount of up to €500 million. The third tranche of the Program commenced on September 11, 2023 and will end no later than December 11, 2023.
The Program is being carried out under the authority granted by shareholders at the general meeting held on April 13, 2023, which may be renewed or extended, up to a maximum of 10% of the Company’s capital.
Source: https://www.stellantis.com/en/investors/stock-and-shareholder-info/share-buyback-program