Commerzbank successfully completes first share buy-back programme
Δευτέρα, 26 Ιουνίου 2023 14:11- Shares worth €122 million repurchased (0.97 per cent of share capital)
- CFO Bettina Orlopp: “With the completion of our first share buy-back, we have successfully established this capital distribution instrument.”
Commerzbank AG successfully completed its first share buy-back programme today (Friday). Since 7 June, the Bank has bought back a total of 12,134,305 of its own shares (ISIN DE000CBK1001) in the amount of €122 million at an average price of around €10,05 per share. This corresponds to a share of 0.97% of the Bank’s share capital. The repurchased shares are expected to be redeemed in the second half of the current year.
The share buy-back programme complemented the dividend payment of 20 cents per share for the 2022 financial year. The Bank has distributed a total of €372 million to its shareholders, which corresponds to 30% of the Group’s profit after deduction of the AT 1 coupon payments.
“It is important to us as Board of Managing Directors that our shareholders participate in the financial success of the Bank,” said Chief Financial Officer Bettina Orlopp. “With the completion of our first share buy-back, we have successfully established this capital distribution instrument. We are convinced that our earnings development will enable further distributions to our shareholders.”
For the 2023 financial year, the Bank aims to increase the pay-out ratio to 50% of the Group’s profit after deduction of the AT 1 coupon payments.