Munich Re to Buy Back Shares for Up to $1 Billion; Increases Dividend
22 Februar 2022 - 02:19PM
Dow Jones News
By Cecilia Butini
Munich Re AG said Tuesday that it would start a share buyback of
up to 1 billion euros ($1.13 billion) and proposed a dividend
increase.
The German reinsurer said the buyback will run from April 29,
2022 to May 5, 2023, at the latest, and that the amount corresponds
to about 2.8% of the share capital, or 3.9 million own shares.
The repurchased shares will be retired, it added.
Rrgarding the dividend increase, the company said it will
propose a EUR1.20 increase at the annual general meeting, which
will increase the dividend to a total of EUR11 a share for
2021.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
February 22, 2022 08:04 ET (13:04 GMT)
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