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Pernod Ricard: Continuation of Share Buy-Back Program
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Pernod Ricard announces an agreement to buy back shares worth up to €300 million as part of its ongoing share buyback program, which totals approximately €750 million for FY22. This program has already executed about €250 million in the first half of FY22. The buyback will start on February 18, 2022, and may extend until April 1, 2022, with a maximum price of €280 per share as approved in the November 10, 2021, shareholders' meeting.
Positive
Share buyback program worth up to €300 million.
Continuing commitment to returning capital to shareholders.
Negative
None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
Pernod Ricard (Paris:RI):
Press release - Paris, 18 February 2022
As part of its share buy-back program (c. €750m announced for FY22 of which c. €250m already executed in the first half), Pernod Ricard has signed an agreement with an investment services provider, whereby Pernod Ricard will undertake to acquire its own shares for a maximum amount of c. €300mover a period starting on February 18, 2022 and possibly extending until April 1, 2022.
The price of the shares purchased under this mandate shall not exceed the limit of €280 per share set by Pernod Ricard Shareholders’ Meeting held on November 10, 2021.
About Pernod Ricard
Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €8,824 million in fiscal year FY21. The Group, which owns 16 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur, Mumm and Perrier-Jouët champagnes, as well Jacob’s Creek, New Zealand Wines, Campo Viejo, Mumm Sparkling and Kenwood wines. Pernod Ricard’s strategy focuses on investing in long-term and sustainable growth for all its stakeholders, remaining true to its founding values: entrepreneurial spirit, mutual trust, and strong sense of ethics. The Group’s decentralised organisation empowers its 18,500 employees to be on-the-ground ambassadors of its vision of “Créateurs de Convivialité”. Pernod Ricard 2030 Sustainability and Responsibility roadmap “Good Times from a Good Place” is integrated into all its activities from grain to glass, and Pernod Ricard is recognised as a UN Global Compact LEAD participant for its contribution to the United Nations Sustainable Development Goals (SDGs). Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code: FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.