Coty Plans To Gradually Recommence Shareholder Returns

(RTTNews) - Coty Inc. (COTY) announced its intention to gradually return equity distributions as deleveraging continues, while also entering into agreements with several banks to start hedging a planned $200 million share buyback program in calendar 2024. The company expects continued strong free cash flow generation and steady deleveraging progress in the coming years.

Laurent Mercier, CFO, said, "Our strategy for unlocking value expansion in Coty has remained consistent, anchored on three key objectives: accelerating our sales and profit growth, deleveraging our balance sheet, and simplifying our capital structure."