(Bloomberg) -- Puma SE will raise its payout to investors as the German sports company seeks to boost earnings with a better offering of running, soccer and basketball gear.

The company is kicking off a €100 million ($108 million) share buyback program that will expire in March 2025 and raising the potential ratio of its dividend policy to as much as 40% of net income from 35% previously, Puma said in a statement Thursday.

Chief Executive Officer Arne Freundt, now in his second year at the helm, is hoping to win back investors with the measures and by introducing new plans for footwear and apparel at a capital markets day event this week. Puma was long an industry darling, but it has recently fallen out of favor with some investors and consumers who appear more smitten with smaller rivals like Hoka, New Balance and Switzerland’s On Holding AG.  

With Puma’s stock down about 30% in the 12 months, investors have speculated that the company could resort to share buybacks. It fell 1% in Frankfurt trading on Thursday. 

Puma said earlier this week that it expects demand to pick up for sneakers and sports gear in the second half, building on major sporting events like the European soccer championships and Summer Olympics in Paris.

Puma will invest in its first global brand campaign in 10 years this spring, according to Freundt. The company is hoping to spur growth by, among other things, building out higher-priced offerings for soccer, basketball and running sportswear.

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