Diageo plc (DGE.L,DEO), on Thursday, announced the commencement of its new share buy-back programme. The company further stated that this share buy-back programme will return up to $1.0 billion of capital to shareholders and is to be completed before the end of fiscal 24.
Diageo said that it has entered into a non-discretionary agreement with Merrill Lynch International to enable the company to buy-back shares with an aggregate value of up to $1.0 billion. This agreement will commence on 12 October 2023 and will end no later than 26 June 2024.
The purpose of the new share buy-back programme is to reduce the share capital of Diageo plc. All shares repurchased under this agreement will be cancelled.
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