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Commerzbank Plans Share Buyback and Dividend Payout for 2024
Commerzbank has announced plans for a new share buyback program and a proposed dividend based on its 2024 fiscal year performance. The bank's revenue growth, particularly in net interest and commission income, contributed to a preliminary net result of €2.68 billion. Following regulatory deductions, 71% of the €2.44 billion net profit will be distributed to shareholders.
The share buyback program is valued at up to €400 million and will commence after the fiscal year reporting, finishing by mid-May 2025. Additionally, a dividend of €0.65 per share is intended for proposal at the Annual General Meeting.
The decisions reflect a strong financial position, with a CET1 ratio of 15.1% after these distributions. This move aims to enhance shareholder value amidst continued financial market uncertainty.
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