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Diageo: new stage in share buybacks

(CercleFinance.com) - Diageo announced on Friday the launch of a new tranche of its shareholder redistribution plan, which will pay out up to 4.
5 billion pounds by 2024.

In a statement, the British spirits giant said it had appointed investment bank Goldman Sachs to conduct a share buyback program of up to 550 million pounds.

The share purchases, which are due to start today and end no later than March 2022, are intended to enable a capital reduction through the cancellation of the shares repurchased.

Under the first part of its shareholder reward program, launched in January 2020, Diageo repurchased 1.25 billion pounds of its own shares.

The second phase of the program, which began in May, is still underway and aims to acquire up to 1 billion pounds of its own shares.


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