Unilever has commenced the fourth and final tranche of its share buy-back programme, which has an aggregate market value equivalent of up to €3bn.

The programme was launched in February 2022, with the packaged goods firm stating that the buy-back scheme would take place over two years.

The fourth tranche of the programme has an aggregate market value equal to €750m, which will be bought back in the form of Unilever ordinary shares.

Unilever launched its other tranches in March and September 2022 and in March this year. Each had a market value equivalent to €750m.

The firm said the purpose of the tranche is to reduce the capital of Unilever. The maximum number of shares to be bought back is set at 253 million.

Following the launch of the programme in 2022, chief financial officer at Unilever, Graeme Pitkethly said that it reflected “the strength of our balance sheet, our leverage levels and the confidence that we have in our outlook and our cash flows going forward”.

“We think it’s the most value creating option within the capital allocation framework at the current time.”

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