BERLIN (Reuters) – German insurer Allianz on Thursday announced ahead of its fourth-quarter results a billion-euro share buyback programme to run for nine months from early March and raised dividends for next year by more than a fifth.
The new dividend policy, under which the regular pay-out will rise from 50% to 60% of net income, will result in dividends per share rising to 13.80 euros for 2023, up from 11.40 euros in the previous financial year.
All rebought shares will be cancelled, the company said.
Since 2017, the company has spent 12.5 billion euros on share buybacks, concluding its most recent 1.5 billion euro programme in November.
(Reporting by Thomas Escritt and Alex Huebner; Editing by Chris Reese)
