30th Dec 2015 17:05
LONDON (Alliance News) - Reckitt Benckiser Group PLC on Wednesday said it will commence a share repurchase programme in 2016, spending up to a maximum of GBP800 million.
The programme will follow Reckitt's 2015 share buyback programme, also of GBP800 million, which it said was carried out to offset the dilutive impact of employee share schemes and to maintain borrowings at around current levels.
Reckitt said it has entered into an agreement with Morgan Stanley Securities Ltd to enable the purchase of up to a maximum of 2.5 million shares during a period starting January 4 and expected to end by February 29, but ending no later than March 3.
Shares in the consumer goods company closed up 0.1% at 6,310.00 pence on Wednesday.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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