12.10.2018 14:17:05

Starbucks Says Executes $5 Bln Accelerated Share Repurchase Program

(RTTNews) - Starbucks Corp. (SBUX) said, as part of previously announced plan to return $25 billion to shareholders in the form of share buybacks and dividends through fiscal 2020, the company is currently executing a $5 billion accelerated share repurchase program (ASR) of the Company's common stock with the assistance of two financial institutions.

The company said it used proceeds from the recently completed transaction with Nestlé S.A. to execute the ASR, effective October 1, 2018. Initial delivery of shares represented approximately 80% of the total shares that will be repurchased under the ASR, which is expected to be completed as early as February 2019 and no later than March 2019.

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