Diageo announces share repurchase programme | Progresiv
Drinks giant Diageo has said that it is launching a share repurchase programme, with which it is seeking to 'return up to 1.5 billion pounds to shareholders' during the fiscal year ending 30 June 2018. 
The Tanqueray and Guinness owner has entered into a non-discretionary agreement with Morgan Stanley & Co. International to enable it to buy back shares.
The repurchase programme commences today, 8 September, and is expected to end no later than 31 March next year.
Morgan Stanley will make its trading decisions in relation to the company's securities independently of, and uninfluenced by, the company, it noted.
'The purpose of the buy-back programme is to reduce the share capital of Diageo plc,' the group said. 'All shares purchased will be cancelled. The buy backs will be effected within certain pre-set parameters and in accordance with Diageo's general authority to repurchase shares.' (www.esmmagazine.com)
