The Adidas Group announced the completion of the second tranche of a €3.0 billion share buyback program initiated in March 2018 and running through May 2021. It has purchased sofar €1.8 billion worth of its own stock and plans to buy up to €1.0 billion in 2020. In the second tranche of the program, which ran from Jan. 7 to Dec. 18, 2019, the group spent €815 million to buy back 3.2 million shares at an average price per share of €252.80. Coupled with its policy of paying dividends in a range of 30 to 50 percent of net income, it returned a total of €1.5 billion to its shareholders in 2019. As it plans to cancel most of the repurchased shares, Adidas has canceled a total of 8.8 million treasury shares since the start of the program.