Adidas to buy back €800M of shares in 2019

Monday, 07. January 2019 10:10

Adidas AG announced on Monday that it plans to repurchase its shares worth up to €800 million in 2019 as a part of its multi-year buyback program.

The sportswear manufacturer first announced the repurchasing program in March 2018 and noted it intends to buy back up to €3 billion worth of shares by 2021. In 2018, the company repurchased 5.1 million shares for €1 billion, with the average price per share at €196.45.

Adidas reiterated its plans to cancel most of the repurchased shares and reduce its share count and stock capital, noting it already canceled 8.8 million treasury shares in October 2018.

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Breaking the News / NP