By Sabela Ojea

Diageo PLC said Friday that that it has started the next tranche of its return of capital program of up to 4.5 billion pounds ($5.99 billion) to shareholders by the end of June 2024.

The liquor maker--which owns Johnnie Walker whisky and Tanqueray gin--said it has entered into an agreement with Goldman Sachs International to enable it to buy back shares with a value of up to GBP550,000.

The non-discretionary agreement, which has started on Friday, will end no later than March 4, it added.

"The purpose of the repurchases is to reduce the share capital of Diageo and all shares repurchased under this agreement will be cancelled," the London-listed company said.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

November 26, 2021 02:28 ET (07:28 GMT)

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