Adidas Launches Additional EUR450 Million Share Buyback
14 Outubro 2021 - 9:42AM
Dow Jones News
By Cristina Roca
Adidas AG said Thursday that it will launch a new share buyback
program worth 450 million euros ($521.8 million).
The German sporting-goods company said the program will start on
Monday, and that it intends to cancel most of the shares it
repurchases.
The new program means Adidas will buy back shares worth EUR1
billion this year.
"The decision to launch an additional share buyback program
reflects our strong financial profile as well as the successful
start of the execution of our strategy 'Own the Game'," said Harm
Ohlmeyer, Adidas's finance chief.
Part of the strategy is distributing EUR8 billion-EUR9 billion
through regular buybacks and dividends, the company said.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
October 14, 2021 08:27 ET (12:27 GMT)
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