As announced on August 7, 2014, Nestlé began a new share buy-back programme for the purpose of subsequent capital reduction on August 25, 2014. This buy-back programme will amount to CHF 8 billion and is due to be completed by the end of 2015.
Share buy-backs of Nestlé shares are carried out on a second trading line on SIX Swiss Exchange, with Nestlé as the exclusive buyer on this trading line. A shareholder wanting to sell shares may do so either via the ordinary trading line or on the second trading line. Nestlé shares sold via the second trading line are subject to the Swiss federal withholding tax of 35 percent on the difference between the repurchase price of the Nestlé share and its nominal value of CHF 0.10. This withholding tax can be reclaimed as appropriate.
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Nestlé started share buy-back programmes in 2005, increasing with them the flexibility in managing its capital structure as well as the strong financial position of the Group.
From 2005 to June 2010, the following buy-back programmes took place.