|10-02-2014, 04:14 PM||#1|
Adidas launches a shareholder return program
The world`s second largest sporting-goods maker Adidas AG launched a shareholder return program in an attempt to reduce the amount of unhappy shareholders by returning around 1.5 billion Euros ($1.9 billion) to its shareholders over three years.
According to a Germany-based company, the shareholder return program will start within the fourth quarter and will be chiefly funded from cash flow.
The major goal of this program is the recollect of up to 10% of the company`s share capital, which was approved by shareholders in May.
Along with this internal challenge among rivals, Adidas is only facing a tougher competition against two of the largest sporting-goods makers, including Nike Inc. and Under Armor Inc.
Adidas shares have fallen roughly 38% this year, compared with Nike`s 10% gain yet the German company is far from forfeit having more items to be launched in the market and further innovation throughout its products technology and quality.
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