Groupe Bruxelles Lambert Cuts Adidas Stake, to Return Some Funds to Shareholders
By Ian Walker
Groupe Bruxelles Lambert reduced its investment in adidas and plans to return some of the money raised to its shareholders through an increased dividend.
The investment company--which also has shareholdings in Pernod Ricard, Umicore and Imerys--said late Wednesday that it reduced its stake in adidas to 5.1% from 7.6%, raising 630 million euros ($682 million) net.
It plans to pay a record-high dividend of EUR5.00 a share, an 82% increase over last year's payout.
GBL said that dividends, together with share buybacks, will continue to be an important part of cash returns to shareholders.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
August 01, 2024 05:57 ET (09:57 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Where Top Stock Fund Managers Are Looking Next After the Fed Rate Cut
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst
-
How GLP-1 Drugs Like Ozempic Are Boosting Biopharma Stocks