Commerzbank Concludes €600 Million Share Buyback Programme

Commerzbank AG successfully concluded its €600 million share buyback, purchasing 55,554,320 of its own shares, which represents 4.48% of its share capital. This operation contributes to the bank's strategy of balancing share buybacks with dividend distributions to enhance shareholder returns. CFO Bettina Orlopp reiterates the bank's commitment to this approach following the buyback's completion.

The share repurchase is paired with an anticipated €1 billion total return to shareholders for the 2023 fiscal year, including a proposed dividend of about 35 cents per share, pending Annual General Meeting approval. This aligns with the bank's policy of distributing 50% of its net profits after AT1 coupon deductions. Commerzbank aims to increase this payout ratio to at least 70% for the 2024 financial year. This recent buyback follows a previous programme that saw the bank repurchasing €122 million worth of shares in June 2023.