Adidas: starts third round of share buybacks
(CercleFinance.com) - Adidas announces the start of the third round of its multi-year share buyback program announced in March 2018.
The German sporting goods giant intends to buy back up to one billion euros worth of its own shares in 2020.
In all, under the current program, the group plans to buy back shares amounting to up to three billion euros between March 2018 and May 2021. The first two tranches of the plan have enabled it to buy back 8.3 million shares, or 4.1% of its capital, for 1.8 billion euros.
These buybacks complement a policy of distributing annual dividends to shareholders that represent between 30% and 50% of the group's net income from continuing operations. Adidas intends to cancel the majority of the shares that it has repurchased.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
The German sporting goods giant intends to buy back up to one billion euros worth of its own shares in 2020.
In all, under the current program, the group plans to buy back shares amounting to up to three billion euros between March 2018 and May 2021. The first two tranches of the plan have enabled it to buy back 8.3 million shares, or 4.1% of its capital, for 1.8 billion euros.
These buybacks complement a policy of distributing annual dividends to shareholders that represent between 30% and 50% of the group's net income from continuing operations. Adidas intends to cancel the majority of the shares that it has repurchased.
Copyright (c) 2020 CercleFinance.com. All rights reserved.