HERZOGENAURACH (dpa-AFX) - The sporting goods manufacturer Puma wants to convince shareholders with a better dividend policy. In future, the payout ratio is to be 25 to 40 percent of consolidated net income, the company announced on Thursday ahead of its Capital Markets Day, which begins at midday. Previously, the upper limit was 35 percent. Puma also announced a share buyback program with a volume of 10 to 25 percent of consolidated net income. In total, the payout ratio is to reach up to 50 percent of consolidated net income. The company justified the move with an expected robust inflow of funds.

The first tranche provides for the repurchase of treasury shares with a total purchase price of up to EUR 100 million and will begin in March 2024 for the period up to May 6, 2025. The repurchased shares are to be retired. The share price jumped briefly after the news, but then gave up its gains and most recently traded just under one percent down./nas/stk