Frankfurt, July 26 (BNA): Deutsche Bank’s board of directors has decided to buy back its own shares worth up to €450 million ($497 million), the DAX-listed group announced on Tuesday evening.
The share buyback is to begin in August and be completed before the end of the year, dpa reported.
“We are very pleased that, with the authorization of our supervisory authority, we can continue on the path of returning capital to our shareholders,” chief executive Christian Sewing said in a statement.
Converted, this would correspond to an increase in the dividend for 2022 from 20 to 30 cents per share.
Last year, Deutsche Bank achieved its highest profit in 15 years.
On Wednesday, the group will publish its figures for the second quarter.
F.K.N.
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