BERLIN (dpa-AFX) - adidas AG (ADDYY.PK) said that it has decided to launch a new share buyback program in the second half of 2021. Starting on July 1, 2021, the company plans to buy back shares worth up to 550 million euros until the end of the year.
Taking into consideration the dividend payment of 585 million euros which was made in May, the total amount of cash which the company will return to its shareholders in 2021 is expected to exceed 1 billion euros.
adidas expects to drive significant top-line growth and strong bottom-line expansion until 2025, through its new strategy 'Own the Game.' As a result, the company will generate substantial cumulative free cash flow over the next five years.
adidas plans to share the majority of free cash flow - between 8 billion euros and 9 billion euros - with its shareholders through regular dividend pay-outs in a range of between 30% and 50% of net income from continuing operations, complemented with share buybacks.
Copyright RTT News/dpa-AFX
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