French Fashion Giant LVMH Adopts €1.5B Share Buyback Program

Luxury goods company LVMH-Moet Hennessy Louis Vuitton LVMHF has announced a plan to repurchase about €1.5 billion of its shares.
The share buyback is expected to begin on Mar. 1, 2023, and end on or before Jul. 20, 2023.
LVMH has entrusted an investment services provider with a mandate for the repurchase.
The repurchased shares are intended to be cancelled.
The French fashion giant registered a 23% year-on-year revenue growth in FY22 to €79.2 billion.
At the General Meeting of Apr. 20, 2023, LVMH will propose a dividend of €12 per share.
Also Read: Luxury Goods Company LVMH CEO Bernard Arnault's Daughter Takes Helm Of Christian Dior
Price Action: LVMHF shares closed lower by 1.42% at $835 on Tuesday.
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