Kering declares interim dividend and share repurchase for equity programs
Luxury group Kering's board has declared an interim dividend of €2.50 per share for the 2020 financial year and initiated a share repurchase program for employee grants.
Kering's Board of Directors announced on December 10, 2020, the declaration of an interim dividend for the 2020 financial year, amounting to €2.50 per share. The dividend is scheduled to be paid on January 21, 2021.
The group also confirmed its intention to repurchase up to 50,000 of its own shares. This buyback, representing approximately 0.04% of the share capital as of November 15, 2020, is authorized by shareholders and is expected to be completed by March 31, 2021, subject to market conditions.
The repurchased shares are earmarked for allocation to free share grant programs designed for Kering employees. This initiative aims to reward and retain key personnel within the organization.
The balance of the dividend for the 2020 financial year will be proposed for approval at the Annual General Meeting on April 22, 2021. These financial moves align with Kering's established dividend policy and its strategy of incentivizing its workforce.