Deutsche Boerse to Buy Back EUR300 Million in Own Shares; Adjusts Dividend Policy
By Joshua Kirby
Deutsche Boerse is to launch a share buyback of 300 million euros ($321.6 million,) and set out a new annual dividend policy.
The operator of the German stock exchange said late Monday that it will from now on pay 30%-40% of its adjusted annual net profit in dividends, entailing an increase in dividend per share. For 2023, the company plans to pay out some 40% of profits, it said.
For 2022, DB proposed a payout of 44% of profits.
Deutsche Boerse will complement dividend payouts with share buybacks in case of excess cash, starting with a buyback of EUR300 million beginning in the first quarter of next year.
"The executive board will decide separately on the details of the share buyback," the company said.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
November 07, 2023 01:52 ET (06:52 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
6 Top-Performing Large-Growth Funds
-
What’s the Difference Between the CPI and PCE Indexes?
-
Micron Earnings: Great Guidance but Stock Now Looks Fairly Valued
-
August PCE Report Forecasts Show More Good News on Inflation
-
AI Stocks May Be Down, but Don’t Count Them Out
-
4 Stocks to Buy as the Fed Cuts Interest Rates
-
Markets Brief: The Uncertain Path to Neutral Interest Rates
-
What’s Happening in the Markets This Week
-
Morningstar’s Guide to Investing in Stocks
-
Our Top Pick for Investing in US Renewable Energy
-
How to Measure a Stock’s Uncertainty
-
How to Determine Whether a Stock Is Cheap, Expensive, or Fairly Valued
-
Why a Company’s Management and Capital Allocation Matter
-
How to Determine What a Stock Is Worth
-
How to Measure a Company’s Competitive Advantage
-
How to Think Like a Stock Analyst