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FRANKFURT - Commerzbank AG (OTC:CRZBY) (ETR:CBK) has announced the successful completion of its €400 million share buyback program on Wednesday, which began on February 14, 2025. The bank repurchased a total of 18,335,008 shares, representing 1.5% of its share capital, at an average price of approximately €21.81 per share. This buyback is part of a larger capital return plan for the 2024 financial year.
The total capital return to shareholders for the year is approximately €1.73 billion, which includes both share buybacks totaling around €1 billion and a proposed dividend payment of about €733 million, or €0.65 per share. This dividend proposal will be presented at the Annual General Meeting on May 15, 2025. The capital return represents 71% of the bank’s net result after AT1 coupon payments.
Commerzbank (ETR:CBKG) CEO Bettina Orlopp commented on the completion of the buyback, emphasizing the bank’s commitment to returning capital to shareholders. She noted that the total capital return for the years 2022 to 2024 amounts to €3.1 billion, exceeding initial commitments.
CFO Carsten Schmitt outlined the bank’s future objectives, stating that Commerzbank aims to sustainably increase profitability and, based on that, continuously enhance capital returns to shareholders through share buybacks and a steadily increasing dividend. For the 2025 financial year, the bank targets a payout ratio of 100% of the net result before restructuring costs and after AT1 coupon payments.
This announcement is based on a press release statement from Commerzbank, which is responsible for its content. It should be noted that forward-looking statements in the release are not guarantees of future performance and are subject to various risks and uncertainties.
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