Diageo: fourth phase of capital redistribution program

(CercleFinance.com) - Diageo today announced that it is entering the fourth (and final) phase of its previously announced Return Of Capital (ROC) program, of up to 4.
5 billion pounds, for shareholders, which will be completed in FY23.

Under the first three phases of the ROC programme (completed in January 2020, February 2022 and October 2022 respectively), Diageo has repurchased 3.86 billion pounds of shares.

The company today announces that it has entered into a non-discretionary agreement with Merrill Lynch International (MLI) to enable the company to buy back shares totalling about 64 million pounds.

The agreement will begin on 1 November 2022 and will expire by 24 February 2023. The buybacks, which will reduce Diageo's share capital, will then be cancelled.


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