logo
Plus   Neg
Share
Email

Diageo Signs Deal With UBS To Execute Share Buyback Program - Quick Facts

Diageo PLC (DGE.L,DEO) said that on 25 July 2019, its board approved a return of capital or ROC program to return up to 4.5 billion pounds to shareholders over the next three years.

The purpose of Diageo's buybacks is to reduce the share capital. The company will cancel all the repurchased shares.

Diageo said it has now entered into a non-discretionary agreement with the London Branch of UBS AG to execute the first phase of the ROC Program to enable the company to buy back shares.

This agreement will commence 1 August 2019 and is expected to end no later than 31 January 2020, and will be for a value of up to 1.25 billion pounds.

Diageo noted that UBS will make its trading decisions in relation to the company's securities independently of, and uninfluenced by, the company.

Diageo will announce further execution phases of the ROC program in due course.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
The United Auto Workers at General Motors will remain on strike until ratification of a new four-year labor contract, the union said on Thursday. GM's proposed agreement includes an $11,000 ratification bonus to workers, wage increases of 4 percent throughout the four-year contract, no increases in health care costs; and a path to permanent worker status within four years or less. Streaming giant Netflix Inc. (NFLX) announced that it secured rights to Jeff Smith's critically acclaimed comic book series BONE. Netflix said it plans to develop an animated kids series based on BONE that follows the iconic Bone cousins on an adventure through a vast, uncharted desert and into a... Swedish luxury auto maker Volvo Cars unveiled its first fully electric car, the XC40 Recharge. The XC40 Recharge is a part of the electrified car portfolio that Volvo plans to introduce under the new 'Recharge' sub-brand. The company said it plans to launch a fully electric car every year over the...
Follow RTT
>