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Guinness Maker Diageo Restarts Plan to Return $6.4 Billion to Shareholders. The Stock Is Rising.

·3 min read
Guinness Maker Diageo Restarts Plan to Return $6.4 Billion to Shareholders. The Stock Is Rising.
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Guinness owner Diageo said it would resume plans to return £4.5 billion ($6.36 billion) to shareholders, as its recovery from the Covid-19 pandemic continues to gather pace. The Johnnie Walker and Smirnoff maker said it now expects operating profit to grow by “at least 14% in the full year, slightly ahead of net sales growth.” The company said £1 billion would be paid to shareholders by the end of June 2022, with £500 million of share buybacks by November this year.