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Thomson Reuters to return $2.2 billion to investors from sale of LSEG shares

Reuters
Updated ·1 min read
FILE PHOTO: The logo of Thomson Reuters is pictured at the entrance of its Paris headquarters, France

(Reuters) -Thomson Reuters Corp said on Tuesday it would return $2.2 billion to shareholders through a cash distribution and a reverse stock split after selling some of its shares in the London Stock Exchange Group.

Thomson Reuters, the parent company of Reuters News, said in February it planned to return $2 billion in capital to shareholders and possibly conduct a share stock split after it completes a $2 billion buyback program in the second quarter.

The distribution consists of $4.67 per common share while the reverse stock split will reduce the number of outstanding common shares on a basis proportional to the cash distribution, the news and information company said in a statement.

Shareholders will vote on the distribution and reverse stock split at the upcoming annual meeting on June 14, the company said. The proposal requires approval from at least two-thirds of the votes cast.

(Reporting by Aditya Soni; Editing by Shounak Dasgupta)