February 6, 2018 / 7:07 AM / 17 days ago

Pandora raises shareholder payout after confirming Q4 earnings

COPENHAGEN, Feb 6 (Reuters) - Danish jewellery maker Pandora said it would increase the total amount paid to shareholders this year as it confirmed previously released fourth-quarter sales and profit figures.

Pandora on Tuesday launched a 4 billion Danish crowns ($665.50 million) share buyback programme for 2018, up from 1.7 billion last year, and said it would halve dividend payout compared to last year to 2 billion crowns.

The combined cash return to shareholders this year amounts to 6 billion crowns, compared with 5.7 billion last year, the company, best known as a retailer of charm bracelets, said.

Pandora confirmed preliminary fourth-quarter sales of 7.6 billion Danish crowns ($1.27 billion) and EBITDA of 3.1 billion crowns and repeated its 2018 outlook for revenue to grow 7-10 percent and an EBITDA margin of around 35 percent. (Reporting by Stine Jacobsen; Editing by Sunil Nair)

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