Nestle Completes SFr25b Share Buyback and Starts New Programme
Paul Bulcke, chief executive of Nestle.
Nestle has completed the remaining SFr10b (Eur7.2b) share buyback of its SFr25b share buyback programme initiated in August 2007. Since August 2009, Nestle has repurchased 203,400,000 of its shares for a total of SFr10b at an average purchase price per share of SFr49.17. The average purchase price per share for the whole SFr25b share buyback programme was SFr48.31.
Nestle is now starting a new share buyback programme of SFr10b, subject to market conditions and strategic opportunities. This new share buyback programme will entail Nestle buying back around SFr5b in shares in the second half of 2010, bringing the total of shares repurchased in 2010 to SFr10b. The new SFr10b share buyback programme is expected to be completed during 2011.
