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Adidas will redeem shares
03.10.2014 4076

Adidas will redeem shares

Adidas is launching a multi-year stock repurchase program worth 1,5 billion euros (1,9 billion dollars). The first operations will take place in the fourth quarter of this year, the entire program will last until December 31 2017. The company intends to return up to 10% of the authorized capital on the stock exchange. The company promises to pay its shareholders annual dividends in the amount of 20% to 40% of net profit. The stock return program will be funded primarily from the company's free cash flow. Recall that the group's revenue in the second quarter of 2014 decreased by 2,4% to 3,465 billion euros; net profit fell by 16% and amounted to 144 million euros.

Adidas is launching a multi-year stock repurchase program worth € 1,5 billion ($ 1,9 billion).
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