Diageo Update on trading and capital return programme posted on Company News Board.
Posted: May 12th, 2021, 7:32 am
Here; viewtopic.php?p=411235#p411235
The item includes this bit on share buy-backs and/or possible special dividends;
I hold DGE in my HYP, as of seven years ago. OK, not the highest yielding share, but handy in providing added diversification to my HYP.
Ian.
The item includes this bit on share buy-backs and/or possible special dividends;
Return of capital programme
On 25 July 2019, the Board of Diageo approved the return of up to £4.5 billion to shareholders in the three-year period from 1 July 2019 to 30 June 2022, utilising the most appropriate mechanic of either share buybacks or special dividends depending on market conditions. Under the first phase of the ROC programme, which ended on 31 January 2020, Diageo repurchased shares to a value of £1.25 billion. On 9 April 2020, Diageo announced that it had not initiated the next phase of the ROC programme.
Diageo is announcing today that it is initiating the second phase of its ROC programme of up to £1.0 billion to be completed by the end of fiscal 22. Diageo has entered into a non-discretionary agreement with UBS AG London Branch (UBS) to enable the company to buy back shares. This agreement will commence on 12 May 2021 and is expected to end no later than 12 November 2021 and will be for a value of up to £0.5 billion. All shares repurchased will be cancelled. Further execution phases of the ROC programme will be announced in due course.
I hold DGE in my HYP, as of seven years ago. OK, not the highest yielding share, but handy in providing added diversification to my HYP.
Ian.