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Germany's Adidas announces 3-billion-euro share repurchase

Europe
13.03.2018
By our dpa-correspondent and Europe Online    auf Facebook posten  Auf Twitter posten  
Frankfurt (dpa) - German sports brand Adidas wants to buy back 3 billion euros (3.7 billion dollars) worth of its shares, the company said Tuesday.

Adidas plans to buy back up to 1 billion euros worth of shares by the end of this financial year and the remaining 2 billion euros worth of shares by May 2021, the company said.

A share repurchase reduces the total assets of the business so that its return on assets improve. Reducing the number of shares means earnings per share, revenue and cash flow grow more quickly.

The company said the buyback comes in addition to its policy to pay a dividend in the range of 30 to 50 per cent of net income to shareholders.

Adidas shares have sagged in recent months after disappointing third-quarter results. It reports fourth-quarter and full-year financial results on Wednesday.

 

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