Deutsche Bank completes € 300 million share buyback
Deutsche Bank (XETRA: DBGn.DB / NYSE: DB) today announced the successful completion of its € 300 million share buyback programme announced on January 26, 2022. Between March 14 and April 22, 26.5 million shares, or 1.28% of the bank’s share capital, were repurchased at an average price of € 11.3079 per share.
In addition, management has proposed distributions of around € 400 million in the form of dividends of € 0.20 per share in respect of the 2021 financial year, subject to approval by shareholders at the Annual General Meeting on May 19, 2022. This, together with the completion of the share buyback announced today, would provide a total capital distribution to shareholders of approximately € 700 million.
These actions represent the first steps towards management’s goal, announced at Deutsche Bank’s Investor Deep Dive of March 10, 2022, to distribute around € 8 billion to shareholders in respect of the years 2021 through 2025.
“This marks a milestone on our strategic journey,“ said Christian Sewing, Chief Executive Officer. “As our strategy evolves from successful transformation to sustainable growth through 2025, the distribution of capital to our shareholders is a core objective for us. We have now completed our first step on that path.”
Deutsche Bank’s first quarter 2022 results will be published as scheduled on April 27, 2022.
About Deutsche Bank
Deutsche Bank provides retail and private banking, corporate and transaction banking, lending, asset and wealth management products and services as well as focused investment banking to private individuals, small and medium-sized companies, corporations, governments and institutional investors. Deutsche Bank is the leading bank in Germany with strong European roots and a global network.
This release contains forward-looking statements. Forward-looking statements are statements that are not historical facts; they include statements about our beliefs and expectations and the assumptions underlying them. These statements are based on plans, estimates and projections as they are currently available to the management of Deutsche Bank. Forward-looking statements therefore speak only as of the date they are made, and we undertake no obligation to update publicly any of them in light of new information or future events.
By their very nature, forward-looking statements involve risks and uncertainties. A number of important factors could therefore cause actual results to differ materially from those contained in any forward-looking statement.
Such factors include the conditions in the financial markets in Germany, in Europe, in the United States and elsewhere from which we derive a substantial portion of our revenues and in which we hold a substantial portion of our assets, the development of asset prices and market volatility, potential defaults of borrowers or trading counterparties, the implementation of our strategic initiatives, the reliability of our risk management policies, procedures and methods, and other risks referenced in our filings with the U.S. Securities and Exchange Commission.
Such factors are described in detail in our SEC Form 20-F of 11 March 2022 under the heading “Risk Factors”. Copies of this document are readily available upon request or can be downloaded from www.db.com/ir