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Munich Re reveals $ 1.44 billion share buyback

Munich Re has announced that it will repurchase its shares for up to C $ 1 billion between the end of the 2022 Annual Shareholders’Meeting and the 2023 Annual Shareholders’ Meeting.

Subject to approval by the Board of Corporate Auditors and the Annual General Meeting of Shareholders, the company will increase its fiscal 2021 dividend to € 11 per share.

Joachim Wenning, Chief Executive Officer of Munich Re, said: “The attractive dividend policy remains a trademark of Munich Re.”

The Munich Re board of directors has resolved to buy back shares for up to € 1 billion (excluding incidental costs) between April 29, 2022 and May 5, 2023 at the latest, the company said.

Based on Monday’s share price, this represents approximately 2.8% of equity capital and 3.9 million treasury stock.

According to Munich Re, the repurchased shares will retire.

Munich Re reveals $ 1.44 billion share buyback

Source link Munich Re reveals $ 1.44 billion share buyback

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