Deutsche Bank plans to initiate share repurchases of up to €450 mil. in 2023 starting in Aug.

Deutsche Bank (XETRA: DBGn.DB / NYSE: DB) plans to recommence share repurchases over the remainder of 2023. The bank targets a volume of 2023 share repurchases of up to € 450 million, roughly 50% higher than in 2022, in line with the 50% rise in its dividend per share from € 0.20 to € 0.30 in respect of 2022 which was paid following Deutsche Bank’s Annual General Meeting in May this year. The bank has received the requisite supervisory approvals and aims to commence repurchases in August.

“We are very pleased that, with the approval of our supervisor, we are able to continue on the path of distributing capital to our shareholders,” said Christian Sewing, Chief Executive Officer. “This represents an important step towards our capital distribution objectives, a key element of our Global Hausbank strategy.

Full press release