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Commerzbank ( (DE:CBK) ) just unveiled an announcement.
Commerzbank AG has completed a share buyback program worth €400 million, marking a significant component of its capital return strategy for the 2024 financial year. This initiative is part of a larger capital return plan totaling €1.73 billion, which includes share buybacks and a proposed dividend payment of €733 million. The bank aims to enhance shareholder value by increasing profitability and capital returns, with a future target of a 100% payout ratio of net results before restructuring costs.
More about Commerzbank
Commerzbank is a full-service bank with two main business segments: Corporate Clients and Private and Small-Business Customers. It is a leading bank for the German Mittelstand and a strong partner for around 24,000 corporate client groups. The bank is involved in approximately 30% of Germany’s foreign trade financing and operates internationally in over 40 countries. Commerzbank offers a wide range of financial services, including an omni-channel approach for private and small-business customers, and operates the digital bank comdirect and the Polish subsidiary mBank S.A.
YTD Price Performance: 48.69%
Average Trading Volume: 1,392,030
Technical Sentiment Signal: Sell
Current Market Cap: €27.57B
See more insights into CBK stock on TipRanks’ Stock Analysis page.