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).