Nestlé Completes CHF 20 Billion Share Buyback Program
Source: DairyNews.today
Nestlé S.A. announced on Monday the successful completion of its latest share buyback program, initiated on January 3, 2022. Over the course of the program, the company repurchased 187,372,141 shares at an average price of CHF 106.74 per share, totaling CHF 20 billion.
The share buyback program, part of Nestlé’s capital allocation strategy, involved the cancellation of repurchased shares at Annual General Meetings (AGMs) over the past three years:
13,892,141 shares were cancelled at the AGM on April 7, 2022.
80,000,000 shares were cancelled at the AGM on April 20, 2023.
50,000,000 shares were cancelled at the AGM on April 18, 2024.
As a result, Nestlé’s share capital was reduced to CHF 262 million. The remaining 43,480,000 repurchased shares will be proposed for cancellation at the company’s AGM in 2025.
13,892,141 shares were cancelled at the AGM on April 7, 2022.
80,000,000 shares were cancelled at the AGM on April 20, 2023.
50,000,000 shares were cancelled at the AGM on April 18, 2024.
As a result, Nestlé’s share capital was reduced to CHF 262 million. The remaining 43,480,000 repurchased shares will be proposed for cancellation at the company’s AGM in 2025.
