Commerzbank AGM Approves Dividend and Share Buybacks

Commerzbank’s Annual General Meeting (AGM) on April 30, 2024, saw decisive approvals from shareholders, endorsing both a dividend of 35 cents per share for the 2023 financial year and a series of measures to facilitate further share buybacks. With shareholder support reaching a high of 99.98%, the dividend reflects a continuation of capital returns alongside strategic share buybacks. Further authorization for the acquisition and usage of own shares received majority support of 95.45% and 95.02% respectively.

During the meeting, Jens Weidmann, Chairman of the Supervisory Board, highlighted the bank's strategic progress and its regained capacity to let shareholders share in its success. CEO Manfred Knof emphasized the bank’s role in supporting the transformation of the German economy, outlining their goal to become the primary bank for Germany, crucially during its transformational phase.

The AGM also ratified the actions of both the Board of Managing Directors and the Supervisory Board, with approvals between 95.76% to 99.89%. Additionally, the remuneration report was approved with 93.69% votes in favor. An item to amend the bank’s articles for facilitating electronic shares in line with the Financing for the Future Act was overwhelmingly approved at 99.97%, setting a preparatory ground for future advancements.