Munich Re to Launch Buyback of Up to $1.06 Billion
February 22 2023 - 8:36AM
Dow Jones News
By Adria Calatayud
Munich Re AG said Wednesday that it plans to buy back shares
worth up to 1 billion euros ($1.06 billion), which added to its
dividend proposal amounts to a capital return of EUR2.6
billion.
The German reinsurer said the buyback will run from May 6 to
next year's annual general meeting, scheduled for April 25, 2024,
at the latest.
Munich Re's management board proposed a dividend for last year
of EUR11.60 a share, up from EUR11.00 a share a year earlier.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
February 22, 2023 08:21 ET (13:21 GMT)
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