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Puma, the German sports apparel company, unveiled plans to significantly increase returns to shareholders, aiming to distribute up to 50% of its net income.
This represents a significant uptick from the previous 25-35% dividend range, reflecting the company’s commitment to rewarding investors.
Under the revised dividend policy, Puma will now return between 25-40% of the Group’s net income to shareholders in dividends, signaling a more generous allocation of profits to investors. This adjustment underscores the company’s confidence in its financial position and outlook.
In a strategic move to further bolster shareholder value, Puma announced the initiation of a share buyback program.
Scheduled to commence in March 2024 and conclude on May 6, 2025, the program aims to repurchase and cancel shares worth 100 million euros ($108.43 million). This initiative reflects Puma’s proactive approach to optimizing its capital structure and leveraging market opportunities.
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Despite the optimistic outlook for shareholder returns, Puma acknowledged the prevailing challenging market conditions, as highlighted in its recent financial results.
With sportswear companies navigating the task of persuading budget-conscious consumers to invest in athletic footwear and apparel, Puma remains vigilant in its strategic planning and market positioning.
Puma’s shares have faced pressure compared to industry rivals Adidas and Nike over the past fourteen months, partly attributed to softer sales performance.
The company’s proactive measures, including the enhanced dividend policy and share buyback program, aim to address shareholder concerns and reinforce its competitiveness in the dynamic sportswear market landscape.
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