Unilever Accelerates Share Buyback Programme with Additional €850 Million Repurchase
Unilever has intensified its ongoing share buyback initiative, revealing plans to purchase an additional €850 million worth of shares as part of the third tranche of its €3 billion programme. The consumer goods giant confirmed that the repurchase will be executed between May 2 and July 26, 2024, with Goldman Sachs appointed to carry out the buybacks on behalf of the company.
The move represents a clear signal of financial strength and a continued focus on shareholder returns. Since announcing the wider €3 billion share buyback scheme in June 2023, Unilever has been incrementally repurchasing stock in tranches, a strategy that supports earnings per share and reflects confidence in its long-term value.
The latest tranche follows closely on the second €1.1 billion share repurchase completed in the first quarter of this year. It aligns with Unilever’s capital allocation framework, which includes sustainable investment in growth, maintaining a strong balance sheet, and disciplined returns to shareholders. According to company filings, all repurchased shares will be cancelled, thereby reducing total share count and amplifying individual shareholder value.
For FMCG industry observers, Unilever’s aggressive repurchase strategy highlights broader trends among multinationals facing high interest rates and slower global growth: prioritising shareholder value and cost-efficiency over aggressive expansion. With ongoing margin pressure across categories such as packaged foods, personal care, and household goods, reallocating surplus capital back to investors is emerging as a core financial strategy.
As one of the world’s largest FMCG conglomerates—owning brands such as Dove, Hellmann’s and Magnum—Unilever’s financial decisions often set the tone for peer companies navigating similar market dynamics. The latest tranche reaffirms investor confidence and marks a strong step in its multi-year effort to reshape its portfolio, streamline operations, and respond to market demand for operational discipline and profitability.
Investors and analysts alike will be monitoring the completion of this tranche amid Unilever’s upcoming mid-year earnings update, which will offer further insight into underlying growth, margin trajectory, and the effectiveness of its disciplined capital return programme.