German sportswear maker Puma said on Thursday it plans to return up to 50% of its net income to shareholders through buyback programmes and dividends. Accordingly, the company changed its dividend policy to a payout ratio of 25% to 40% of net income. Previously it was 25% to 35%. The company will initiate a share buyback programme which will bring the total payout ratio to 50% of its net earnings by complementing the dividend policy by another 10 to 15%. The first tranche of the buyback programme will start in March and end on May 6, 2025, when the company will purchase up to 100 million ($108…