Allianz SE announces a €1 billion share buyback program and a revision of its dividend policy

Allianz SE has unveiled today its intention to launch a new share buyback program, with a total value of up to €1 billion. This program is expected to start in early March 2024 and conclude no later than December 31, 2024. The repurchased shares will be canceled.

The company has also announced a modification of its dividend policy aiming to provide attractive dividends to its shareholders. The revised policy includes an increase in the regular distribution rate from 50% to 60% of the net income of the Allianz group (attributable to shareholders), adjusted under certain conditions. Furthermore, Allianz aims to maintain or increase the dividend per share amount each year, while ensuring a rational Solvency II ratio of over 150%.

For the fiscal year 2023, the board of directors is proposing an increase in the dividend from 11.40 euros (previous financial year) to 13.80 euros per eligible share. These measures reflect the current intentions of the management, but they may be subject to revision in the future based on circumstances.