Regulatory Announcement
- In total 55,554,320 own shares repurchased (4.48% of the share capital)
- CFO Bettina Orlopp: “The success reinforces our intention to continue a combination of share buybacks and dividend payments when it comes to capital return.”
Today, Commerzbank AG successfully completed its share buyback programme. The second programme of its history started on 10 January. Since then, the Bank has bought back a total of 55,554,320 of its own shares (ISIN DE000CBK1001) in the amount of around €600 million at an average price of around €10.80 per share. This corresponds to 4.48% of the Bank's share capital. The repurchased shares will be redeemed in a timely manner.
“The completion of the second share buyback programme is an important step for Commerzbank”, said CFO Bettina Orlopp. “The success reinforces our intention to continue a combination of share buybacks and dividend payments when it comes to capital return.”
The now completed share buyback programme complements the planned dividend payment of around 35 cents per share for the 2023 financial year – subject to the approval of the Annual General Meeting at the end of April. Meaning the Bank will return a total of around €1 billion to its shareholders. This corresponds to 50% of the net profit after deduction of the AT1 coupon payments. For the 2024 financial year, the Bank targets a payout ratio of at least 70%, but not more than the net result after deduction of AT1 coupon payments.
With its first share buyback programme, Commerzbank repurchased a total of 12,134,305 of its own shares at an average price of around €10.05 per share equalling an amount of €122 million in June 2023. The buyback was part of the capital return for the 2022 financial year amounting to a total of around €370 million.
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