Nestle buys back $22.56 billion of shares, announces new $9-billion programme
19 Jun 2010
NestleSA has completed its CHF 25 billion ($22.56 billion) share buyback programme and announced plans to start a new CHF 10 billion ($9 billion) share buyback programme on 29 June 2010, subject to market conditions and strategic opportunities.
Nestle, the world's leading nutrition, health and wellness company, repurchased 203.4 million of its shares for a total of CHF 10 billion at an average purchase price per share of CHF 49.17 ($44.37) since 13 August 2009.
The average purchase price per share for the whole CHF 25 billion share buyback programme was CHF 48.31 (around $44). Nestle initiated the share buyback programme on 24 August 2007.
Nestle plans to cancel 185 million repurchased shares, thus reducing the company's share capital by CHF 18.5 million ($16,7 million) later this month, in accordance with the resolution of the 2010 annual general meeting of shareholders of Nestlé SA.
Nestle had, in January 2010, announced plans to start a new CHF 10 billion share buyback programme on 29 June 2010, subject to market conditions and strategic opportunities.
The company has made the necessary filings with the relevant Swiss authorities. As part of this new share buyback programme Nestlé expects to buy back around CHF 5 billion in shares in the second half of 2010, bringing the total of shares repurchased in 2010 to CHF 10 billion.