MURGY Muenchener Rueckversicherungs Gesellschaft AG (PK)

48.41

-1.12 (-2.26%)

Last Updated: 18:02:13

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Name	Symbol	Market	Type
Muenchener Rueckversicherungs Gesellschaft AG (PK)	USOTC:MURGY	OTCMarkets	Depository Receipt

	Price Change	% Change	Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Traded	Last Trade
	-1.12	-2.26%	48.41	48.37	48.44	48.532	48.37	48.52	16,658	18:02:13

Munich Re to Buy Back Shares for Up to $1 Billion; Increases Dividend

22/02/2022 1:19pm

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By Cecilia Butini

Munich Re AG said Tuesday that it would start a share buyback of up to 1 billion euros ($1.13 billion) and proposed a dividend increase.

The German reinsurer said the buyback will run from April 29, 2022 to May 5, 2023, at the latest, and that the amount corresponds to about 2.8% of the share capital, or 3.9 million own shares.

The repurchased shares will be retired, it added.

Rrgarding the dividend increase, the company said it will propose a EUR1.20 increase at the annual general meeting, which will increase the dividend to a total of EUR11 a share for 2021.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

February 22, 2022 08:04 ET (13:04 GMT)