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BERLIN (Reuters) – Adidas (OTC 🙂 plans to buy up to 4 billion euros ($ 4.54 billion) from its shares by 2025 and will also return a majority of the proceeds from Reebok’s sale, it said on Thursday.
The German sportswear company said it will cancel most of the shares it repurchased during the program, which will reduce the number of shares and share capital accordingly.
The purchase will begin in January 2022 and run until 2025, he said.
The move is part of plans announced by Adidas earlier this year to return 9 billion euros to shareholders over the next five years, with dividend payments of between 30% and 50% of the proceeds from continuing operations.
“Over the next two years, our business will generate more money than ever before,” Harm Ohlmeyer said in a statement.
The company will also pass on to the shareholders the majority of its revenue from the divestment of the US subsidiary Reebok, which it expects to complete in the first quarter of 2022, it said.
In August, Adidas reported that Reebok was selling it to Authentic Brands Group (ABG) for $ 2.1 billion ($ 2.5 billion) because the company was concentrating on its flagship brand.
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