Groupe Bruxelles Lambert Cuts Adidas Stake, to Return Some Funds to Shareholders
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Dow Jones
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)
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