Nestlé: completes share buybacks, starts new program
(CercleFinance.com) - Nestlé has completed its 20 billion Swiss franc share buyback program, and will start a new share buyback program of the same amount, the food giant said late on Monday.
The buyback program was initiated in July 2017. Since then, Nestlé has repurchased 225.2 million of its shares at an average purchase price per share of 88.8 Swiss francs, the Swiss company said.
A total of 136.2 million repurchased shares have already been cancelled by the group, resulting in a reduction of its share capital. At the annual general meeting 2020, shareholders will decide upon the cancellation of the remaining repurchased shares.
Nestlé said it will start a new share buyback program of up to 20 billion Swiss francs, as announced in October 2019. The company plans to commence repurchases in January 2020 and plans to complete the program by the end of 2022.
The shares were trading 1.5% lower this morning in Zurich.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The buyback program was initiated in July 2017. Since then, Nestlé has repurchased 225.2 million of its shares at an average purchase price per share of 88.8 Swiss francs, the Swiss company said.
A total of 136.2 million repurchased shares have already been cancelled by the group, resulting in a reduction of its share capital. At the annual general meeting 2020, shareholders will decide upon the cancellation of the remaining repurchased shares.
Nestlé said it will start a new share buyback program of up to 20 billion Swiss francs, as announced in October 2019. The company plans to commence repurchases in January 2020 and plans to complete the program by the end of 2022.
The shares were trading 1.5% lower this morning in Zurich.
Copyright (c) 2019 CercleFinance.com. All rights reserved.