The sporting goods manufacturer Puma wants to convince shareholders with a better dividend policy. The company announced on Thursday before its capital market day that begins at midday that the payout ratio should be between 25 and 40 percent of consolidated earnings in the future. Previously the upper limit was 35 percent. Puma also announced a share buyback program that is expected to have a volume of 10 to 25 percent of group earnings. Overall, the payout ratio should reach up to 50 percent of the consolidated result. The company justified the move with an expected robust cash inflow.
The first tranche provides for the repurchase of own shares with a total purchase price of up to 100 million euros and begins in March 2024 for the period until May 6, 2025. The repurchased shares are to be withdrawn. The stock jumped briefly after the news, then gave up the gains and was recently down almost one percent. (dpa)