Pure-play coffee and tea company JDE Peet’s has announced the introduction of a share buyback program to return €250 million to shareholders in 2025, commencing on 3 March.
In a statement, the company said the main purpose of the program is to reduce the capital of JDE Peet’s by cancelling the majority of the ordinary shares acquired through the program. A small segment will be used to cover share-based renumeration obligations. At the current share price, the program represents a maximum of approximately 13.9 million shares, or 2.8 per cent of total shares outstanding.
Share buyback programs reduce the number of a company’s shares on the market, which in some cases can increase the value of the company’s remaining shares. The process sees the company buy back its own shares from shareholders.
JDE Peet’s says its share buyback program will be executed within the limits of relevant laws and regulations, the existing authority granted at JDE Peet’s 2024 Annual General Meeting of Shareholders (AGM) on 30 May 2024 and the authority (if granted) by the AGM on 19 June 2025.
Throughout the duration of the program, JDE Peet’s will share updates on its progress via a dedicated section on the JDE Peet’s website.
