Street Calls of the Week
LONDON - Reckitt Benckiser Group plc (LSE:RKT) has completed the first £250 million tranche of its previously announced £1 billion share buyback programme and will commence the second tranche today, according to a company statement.
The consumer goods giant purchased 4,445,840 ordinary shares at an average price of £56.23 per share during the first tranche, which ran from July 28 to October 21. All shares purchased have been cancelled.
The second £250 million tranche begins Wednesday and will continue until January 30, 2026, at the latest. The company has instructed BNP Paribas to manage this phase of the buyback as a riskless principal, purchasing shares and simultaneously selling them to Reckitt.
Shares acquired during the second tranche will initially be held in treasury before being cancelled upon completion of this phase. The buyback falls within the limitations of shareholder authorization granted at Reckitt’s Annual General Meeting on May 8, with a maximum of 63,954,160 shares available for purchase under the second tranche.
The share repurchase programme, first announced on July 24, aims to reduce the company’s share capital. This follows the company’s September 26 confirmation that it would proceed with the second phase of the buyback plan.
Reckitt Benckiser Group is the maker of consumer health and hygiene brands including Dettol, Durex, Lysol and Nurofen.
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