By Pietro Lombardi

Adidas AG will buy back shares worth up to 550 million euros ($656 million) through the end of the year.

The German sporting-goods company said Tuesday that, including the dividend it paid in May, the cash it expects to return to shareholders this year should exceed EUR1 billion.

"The decision to resume our share buyback activities reflects adidas' strong financial profile, our positive outlook for the current year and the successful start to our new strategy," said Chief Financial Officer Harm Ohlmeyer.

Write to Pietro Lombardi at pietro.lombardi@wsj.com; @pietrolombard10

(END) Dow Jones Newswires

June 29, 2021 09:00 ET (13:00 GMT)

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