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FRANKFURT - Commerzbank AG (OTC:CRZBY) has announced its Annual General Meeting (AGM) is scheduled for May 15, 2025, marking a return to an in-person event at the RheinMain CongressCenter in Wiesbaden. The AGM, which will commence at 10:00 a.m. CEST, will be accessible for shareholders to stream live via the bank’s InvestorPortal.
A significant agenda item includes the proposal for a dividend of €0.65 per share for the 2024 financial year, amounting to a total distribution of approximately €733 million. This dividend complements the share buybacks executed from November 2024 to March 2025, which totaled €1 billion. Collectively, these actions represent a return of around €1.73 billion to shareholders for the 2024 fiscal year.
The AGM will also involve deliberation on the remuneration systems for the Board of Managing Directors and Supervisory Board, with proposed adjustments to align with regulatory requirements and the German Corporate Governance Code. These changes, if approved, would be effective from January 1, 2026.
Additionally, the meeting will address the election of new Supervisory Board members. Nominations include Sabine Lautenschläger-Peiter, a former member of the Executive Board of the European Central Bank, and Michael Gorriz, a former Global Chief Information Officer of Standard Chartered (LON:STAN) Bank and Daimler AG (ETR:MBGn). They are set to replace outgoing members Jutta A. Dönges and Gertrude Tumpel-Gugerell.
Furthermore, the bank seeks to renew authorization for share buybacks, allowing the acquisition of up to 10% of its share capital. This move is part of Commerzbank (ETR:CBKG)’s strategy to continue capital returns to shareholders through dividends and share repurchases.
Shareholders intending to participate in the AGM must register by May 8, 2025, and provide proof of shareholding as of the record date, April 23, 2025. The full text of the AGM invitation, including detailed agenda items and explanations, is available on Commerzbank’s website.
This information is based on a press release statement issued by Commerzbank AG.
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