PUMA announces shareholder return policy of up to 50% of net profits

PUMA SE has announced its intention to redistribute up to 50% of its net profit to shareholders, including share buybacks. This decision is based on the group's strong financial position at the end of 2023 and its strategy aimed at ensuring sustainable and profitable growth. These factors are expected to generate significant cumulative free cash flow in the coming years, enabling increased shareholder returns.

The PUMA SE Management Board has resolved to adjust the dividend policy to aim for a redistribution rate of 25% to 40% of the group's net profit, compared to 25% to 35% previously. In addition, a share buyback program was initiated, bringing the total redistribution up to 50% of net profit. The first tranche of this program provides for the repurchase of shares for a total amount of up to 100 million euros from March 2024 until May 6, 2025. The acquired shares will subsequently be canceled.

The execution of the share buyback will be carried out on the stock market, in accordance with the authorizations of the 2020 Annual General Meeting and in compliance with the "safe harbor" conditions of the buyback programs stipulated by the regulations. PUMA reserves the right to suspend or terminate this share buyback program at any time.