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Adidas looks to resume dividend after paying back state loans

The German sportswear maker’s payout plan would quantity to 585 million euros ($710 million) and underscores the corporate’s “optimistic outlook” for this 12 months, in line with a press release Monday.

Bloomberg

PUBLISHED ON FEB 22, 2021 06:26 PM IST

Adidas AG plans to renew paying dividends, proposing a payout of three euros per share after reimbursing government-supported loans final 12 months as Covid-19 was spreading.

The German sportswear maker’s payout plan would quantity to 585 million euros ($710 million) and underscores the corporate’s “optimistic outlook” for this 12 months, in line with a press release Monday.

The plan is topic to affirmation by the board of administrators on the annual assembly in Might. It comes after Adidas confronted criticism final 12 months for taking a three billion-euro assist bundle from the German authorities and banks, prompting the suspension of payouts to shareholders.

Since then, Adidas has obtained an investment-grade credit standing and issued bonds and a syndicated mortgage value a mixed three billion euros.

Adidas shares traded 0.6% decrease in Frankfurt after falling as a lot as 2.5% earlier on Monday.

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