Europe

Munich Re resolves share buy-back and significantly increases dividend

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In the period between completion of the 2022 Annual General Meeting and the 2023 Annual General Meeting, Munich Re intends to buy back shares for a maximum value of €1bn. Subject to the approval of the Supervisory Board and the Annual General Meeting, the dividend for the financial year 2021 is to be increased to €11 per share.

Joachim Wenning

 A major dividend increase and a new share buy-back are great news for our shareholders. An attractive dividend policy remains a trademark of Munich Re. 

Joachim Wenning

Chair of the Board of Management

On the basis of the authorisation granted by the Annual General Meeting on 29 April 2020 or a future authorisation, and with the approval of the Supervisory Board, represented by the Standing Committee, Munich Reinsurance Company’s Board of Management has resolved to buy back shares for a maximum total value of €1bn (excluding incidental expenses) in the period between 29 April 2022 and, at the latest, the Annual General Meeting on 5 May 2023. On the basis of the current share price (status: 21 February 2022), this would amount to around 2.8% of the share capital and correspond to 3.9 million own shares. The repurchased shares are to be retired.

Munich Reinsurance Company’s Board of Management has also resolved to propose a dividend increase of €1.20 to a total of €11 per share to the Annual General Meeting.

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Posted by IRL Staff

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