Adidas to slash dividend after Kanye West split

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Adidas to slash dividend after Kanye West split

Adidas will slash its 2022 dividend, it said Wednesday, warning a split with rapper and fashion designer Kanye West could push it to its first annual loss in three decades this year.

will slash its 2022 dividend, it said Wednesday, warning a split with rapper and fashion designer Kanye West could push it to its first annual loss in three decades this year.The company will recommend a dividend of 0.70 euros ($0.7374) per share at a May 11 annual general meeting, it said. The 2021 dividend was 3.30 euros a share.

Adidas is still dealing with the fallout from ending its partnership with West, which yielded the lucrative Yeezy sneaker line.Chief Executive Bjorn Gulden, who took the reins on Jan. 1, pledged to rebuild the bruised brand.

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