The company plans to more than double its dividend for 2017 and has launched a share buyback program.
Danish contemporary jeweler Pandora said net profit jumped 52 percent in the fourth quarter, capping off a bumper year set to generate healthy cash returns for shareholders. Its board of directors has proposed to pay out a total of 4 billion Danish kroner, or $574 million at current exchange rates, in dividend in 2017, including an ordinary dividend of 9 Danish kroner, or $1.29, per share and three extraordinary quarterly dividends of 9 kroner per share. This compared with a total of 1.5 billion kroner, or $223 million, in the 2015 financial year. In addition, Pandora said it would initiate a share buyback program of 1.8 billion kroner, or $258 million, on Tuesday.