World: Diageo starts next phase of GBP4.5 mln buyback

Diageo PLC will start on November 26 the next tranche of its return of capital programme of up to GBP4.5 billion to shareholders by June 2024.

In January 2020 the brewer and distiller completed the first phase, which saw over GBP1.25 billion returned to shareholders, with the second phase ending earlier in November and returning GBP450 million.

Now, for the third phase, Diageo is looking to buy back up to GBP550 million worth of shares by March 4, 2022.

Shares in the Guinness and Smirnoff brands owner were 3.0% lower at 3,794.16 pence each in London on Friday, November 26 morning.

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