par SAPARDIS S.A. (isin : DE0006969603)
EQS-Adhoc: PUMA SE: PUMA plans to return up to 50% of net income to shareholders, including share buybacks
EQS-Ad-hoc: PUMA SE / Key word(s): Share Buyback/Dividend
PUMA SE: PUMA plans to return up to 50% of net income to shareholders, including share buybacks
29-Feb-2024 / 09:34 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Disclosure of inside information according to Article 17 Market Abuse Regulation
PUMA SE (ISIN: DE00069696303 WKN: 696960)
PUMA WAY 1, D-91074 Herzogenaurach
PUMA plans to return up to 50% of net income to shareholders, including share buybacks
Herzogenaurach, 29 February 2024 – PUMA plans to return up to 50% of the Group’s net income to shareholders through its dividend policy and share buybacks. PUMA's strong balance sheet at the end of 2023 and its strategy to achieve sustainable and profitable growth will result in robust cumulative free cash flow generation over the next few years, providing the organic foundation for increased payout to shareholders.
Today, the Management Board of PUMA SE has decided to change the dividend policy to a payout ratio of 25% - 40% of the Group’s net income (previous payout ratio 25% - 35%). In addition, the Management Board of PUMA SE has decided to initiate a share buyback program, which will complement the dividend policy by another 10% - 25% to a total payout of up to 50% of the Group’s net income.
The first tranche provides for the buyback of own shares with a total purchase price of up to € 100 million and starts in March 2024 for a period ending on 6 May 2025. In accordance with the authorisation granted by the Annual General Meeting 2020, the repurchased shares will subsequently be cancelled.
The share buyback shall be executed through the stock exchange and in accordance with the authorisation of the Company’s Annual General Meeting 2020 on 7 May 2020, and in line with the safe harbour requirements of buyback programs set forth by Regulation (EU) No. 596/2014 (Market Abuse Regulation) and Commission Delegated Regulation (EU) No. 2016/1052 of 8 March 2016 (Delegate Regulation).
The share buyback will be carried out by an independent financial service provider, which will make its trading decisions regarding the exact timing of the share purchases independently of and without any influence by the Company. The financial service provider is obliged to comply with the trading conditions of Art. 3 of the Delegated Regulation and the provisions contained in this share buyback program.
PUMA reserves the right to suspend or terminate the share buyback program at any time.
Information on the transactions relating to the share buyback program will be published according to Art. 2 of the Delegated Regulation and will be made available on the Company's website under https://about.puma.com/en/investor-relations.
Financial Calendar:
29 February – 01 March 2024 Capital Markets Day
08 May 2024 Quarterly Statement Q1 2024
22 May 2024 Annual General Meeting
07 August 2024 Interim Report Q2 2024
06 November 2024 Quarterly Statement Q3 2024
The financial releases and other financial information are available on the Internet at “about.puma.com“.
Media Relations:
Kerstin Neuber – Senior Director Corp Comms – PUMA SE – Kerstin.neuber@puma.com
Investor Relations:
Gottfried Hoppe – Head of Investor Relations & Finance Strategy - PUMA SE - +49 9132 81 3157 -
gottfried.hoppe@puma.com
Notes to the editors:
- The financial reports are posted on about.puma.com
- PUMA SE stock symbol:
Reuters: PUMG.DE, Bloomberg: PUM GY,
Börse Frankfurt: ISIN: DE0006969603– WKN: 696960
Notes relating to forward-looking statements:
This document contains statements about the future business development and strategic direction of the Company. The forward-looking statements are based on management's current expectations and assumptions. They are subject to certain risks and fluctuations as described in other publications, in particular in the risk and opportunities management section of the combined management report. If these expectations and assumptions do not apply or if unforeseen risks arise, the actual course of business may differ significantly from the expected developments. We therefore assume no liability for the accuracy of these forecasts.
PUMA is one of the world’s leading sports brands, designing, developing, selling and marketing footwear, apparel and accessories. For 75 years, PUMA has relentlessly pushed sport and culture forward by creating fast products for the world’s fastest athletes. PUMA offers performance and sport-inspired lifestyle products in categories such as Football, Running and Training, Basketball, Golf and Motorsports. It collaborates with renowned designers and brands to bring sport influences into street culture and fashion. The PUMA Group owns the brands PUMA, Cobra Golf and stichd. The company distributes its products in more than 120 countries, employs about 20,000 people worldwide and is headquartered in Herzogenaurach/Germany.
For more information, please visit https://about.puma.com.
End of Inside Information
29-Feb-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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| Language: | English |
| Company: | PUMA SE |
| PUMA WAY 1 | |
| 91074 Herzogenaurach | |
| Germany | |
| Phone: | +49 9132 81 0 |
| Fax: | +49 9132 81 42375 |
| E-mail: | investor-relations@puma.com |
| Internet: | www.puma.com |
| ISIN: | DE0006969603 |
| WKN: | 696960 |
| Indices: | MDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1847941 |
| End of Announcement | EQS News Service |
1847941 29-Feb-2024 CET/CEST