The sporting goods manufacturer Adidas is launching another share buyback program.
From this Monday to the end of the year, own shares worth 450 million euros are to be acquired, as the Dax group announced on Thursday in Herzogenaurach.
The majority should then be withdrawn.
This reduces the number of shares, which increases earnings per share.
The share price increased significantly on the news.
As one of the favorites in the Dax, the papers continued their latest attempt at recovery with an increase of 2.80 percent to 270.20 euros.
Most recently, however, they had also fallen significantly from the record high of a good 336 euros reached at the beginning of August.
Just like the buyback program, which ended in September, is also the current part of the new strategy until 2025. Among other things, Adidas wants to significantly increase profitability.
The company intends to distribute 30 to 50 percent of the profits from continuing operations as dividends, and share buybacks are planned for this purpose.
In total, Adidas wants to pass on 8 to 9 billion euros to its shareholders.
According to the latest announcement, it will be one billion euros by the end of 2021.