Puma’s Strategy Allocating Up to 50% of Net Income to Shareholders, Encompassing Share Buybacks

In a significant move, PUMA announces its intention to distribute up to 50% of the Group’s net income to shareholders through a combination of dividends and share buybacks. The company, fortified by a robust balance sheet at the close of 2023 and an unwavering commitment to sustainable and profitable growth, anticipates substantial cumulative free cash flow generation in the coming years. This forms the bedrock for an organic increase in shareholder payouts.

The Management Board of PUMA SE has ratified changes to the dividend policy, adjusting the payout ratio to a range of 25% to 40% of the Group’s net income, up from the previous 25% to 35%. Furthermore, a new share buyback program has been initiated, supplementing the dividend policy with an additional 10% to 25%, culminating in a potential total payout of 50% of the Group’s net income.

The initial tranche of the share buyback program authorizes the repurchase of PUMA’s own shares, with a maximum purchase price of €100 million. This initiative, slated to commence in March 2024, will run until May 6, 2025, in adherence to the authorization granted by the Annual General Meeting in 2020. Following the repurchase, the acquired shares will be annulled.

The share buyback will adhere to stock exchange regulations and comply with the authorization granted by the Company’s Annual General Meeting in May 2020. It will also align with the market abuse and delegate regulations set forth by the European Union. The execution of the buyback will be overseen by an independent financial service provider, mandated to make autonomous trading decisions, ensuring compliance with trading conditions and program provisions.

PUMA retains the prerogative to suspend or terminate the share buyback program at its discretion.

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