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Diageo PLC (NYSE:DEO)
Shares Outstanding
632 Mil (As of Jun. 2014)

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Diageo PLC's shares outstanding for the quarter that ended in Jun. 2014 was 632 Mil.

Diageo PLC's quarterly shares outstanding increased from Dec. 2013 (627 Mil) to Jun. 2014 (632 Mil). It means Diageo PLC issued new shares from Dec. 2013 to Jun. 2014 .

Diageo PLC's annual shares outstanding stayed the same from Jun. 2013 (629 Mil) to Jun. 2014 (629 Mil).


Definition

Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.

Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.


Explanation

A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.

If a company buys back shares, we should also observe negative number for Net Issuance of Stock in its cash flow statement. If a company issues shares, we will observe positive number of Net Issuance of Stock.


Be Aware

Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.


Related Terms

Net Issuance of Stock, Buy Back Rate


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Diageo PLC Annual Data

Jun05Jun06Jun07Jun08Jun09Jun10Jun11Jun12Jun13Jun14
Shares Outstanding 743713677646624623625627629629

Diageo PLC Semi-Annual Data

Dec09Jun10Dec10Jun11Dec11Jun12Dec12Jun13Dec13Jun14
Shares Outstanding 621625623628623631625633627632
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