London, Feb 3, 2026, 09:30 GMT — Regular session
- Reckitt shares dropped around 1.3% in early London trading, even as the FTSE 100 held steady.
- The company confirmed it has completed the second tranche of its £1 billion buyback, holding the repurchased shares in treasury.
- The 25-for-24 share consolidation linked to a 235p special dividend is now in effect; the cash payout is scheduled for Feb. 20.
Reckitt Benckiser Group RKT.L shares slipped 1.3% to 6,100 pence by 0930 GMT Tuesday.
The dip reflects traders adjusting to a complex mix of buybacks, an updated share count, and a hefty special dividend — all reshaping the numbers but not the actual products on offer. This mismatch will stick around for the next few sessions since the stock’s “before and after” prices won’t align neatly.
The company announced it has wrapped up the second tranche of its £1 billion 2025 share buyback, acquiring 3,461,470 shares at an average price of £59.46 from Oct. 22 to Jan. 28. These shares are now held in treasury, and the company said it won’t cancel any more treasury shares related to this tranche.
Reckitt announced in a separate statement that its share consolidation took effect Monday. The new ordinary shares, now trading on the London Stock Exchange, come with a fresh ISIN. Following the consolidation, total voting rights—the key figure for UK disclosure rules—are 644,753,406, the company confirmed.
Reckitt revealed the wider plan last month, targeting a return of around £1.6 billion through a 235 pence-per-share special dividend following the sale of its Essential Home business to Advent International. The shares went ex-dividend on Feb. 2. Alongside the payout, the company executed a 24-for-25 share consolidation, designed to keep the market price “at a broadly similar level” after factoring in both the dividend and consolidation. Investegate
The broader FTSE 100 edged up just 0.03%, holding close to its session highs, while Reckitt lingered near the bottom of the index in early trading.
Traders face a near-term hurdle in interpreting the tape. Big dividends and consolidation phases can distort short-term percentage moves, making them seem larger or smaller than the actual demand driving the stock.
There’s a downside to consider. Keeping repurchased shares in the treasury instead of cancelling them maintains flexibility, but it can blunt the immediate lift to per-share metrics if those shares are eventually used for employee plans or reissued.
Looking ahead, Reckitt’s special dividend will be paid out on Feb. 20. The company plans to release its full-year results on March 5, accompanied by an investor presentation at 0830 GMT.
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