Diageo Commences Final Phase Of Return Of Capital Program Of Up To GBP 4.5 Bln

(RTTNews) - Alcoholic beverage company Diageo plc. (DGE.L, DEO) said that it is commencing the fourth, and final, phase of its return of capital program of up to 4.5 billion pounds to shareholders to be completed during fiscal year 2023.

Under the first three phases of the return of capital program, which were completed on 31 January 2020, 11 February 2022 and 5 October 2022 respectively, Diageo repurchased shares with an aggregate value of about 3.86 billion pounds.

Diageo said Tuesday that it has entered into a non-discretionary agreement with Merrill Lynch International (MLI) to enable the company to buy back shares with an aggregate value of up to approximately 0.64 billion pounds. This agreement will commence on 1 November 2022 and will end no later than 24 February 2023.