Adidas to Start $1.9 Billion Shareholder Return Program
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Adidas AG took steps to placate investors who have sent its shares down 35 percent this year, saying it plans to buy back as much as 1.5 billion euros ($1.9 billion) of its stock over the next three years.
The buyback plan, coupled with a pledge to maintain its dividend, is an attempt by the world’s No. 2 sporting-goods maker to show it’s committed to boosting its share price after scrapping two years’ worth of profit forecasts and losing ground to U.S. competitors including Nike Inc.