Summary by Moomoo AI
Unilever PLC has announced the commencement of the second and final tranche of its €1.5 billion share buyback programme for 2024. The second tranche, valued at up to €799,898,000, follows the completion of the first tranche on August 30, 2024, which saw the repurchase of 13,437,701 ordinary shares for €700,101,906.Set to run from September 13 to December 13, 2024, this tranche aims to reduce Unilever's capital. The company has engaged BNP Paribas Financial Markets to execute the buyback independently. The programme operates within the limitations of the authority granted by shareholders at the May 1, 2024 general meeting, allowing for a maximum of 236,762,299 shares to be repurchased.Unilever, a global leader in consumer goods, reported sales of €59.6 billion in 2023, with products used by 3.4 billion people daily across 190 countries. The company employs 128,000 people and maintains a strong market presence in Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream sectors.