Higher Payout Ratio, Increased Dividend Per Share Plus New Share Buy-back Announced
MUNICH--(BUSINESS WIRE)--February 23, 2024
12M 2023:
- Total business volume rises 5.5 percent to 161.7 billion euros
- Operating profit increases 6.7 percent to 14.7 billion euros primarily driven by the Life/Health business segment
- Shareholders’ core net income excellent at 9.1 billion euros, up by 30.3 percent
4Q 2023:
- Total business volume advances 7.8 percent to 39.6 billion euros
- Operating profit surges by 17.0 percent to 3.8 billion euros driven by the Life/Health business segment, supported by solid results in all other business segments
- Shareholders’ core net income of 2.4 billion euros, up by 46.4 percent
- Strong Solvency II capitalization ratio of 206 percent1 after proposed dividend pay-out
Outlook:
- 2024 operating profit target at 14.8 billion euros, plus or minus 1 billion euros2
Other:
- Management to propose a dividend per share of 13.80 euros, an increase of 21.1 percent from 2022
- Regular dividend payout ratio increased to 60 percent (from 50 percent). This new dividend policy shall already apply to the dividend for fiscal year 2023
- In addition to this, a renewed share buy-back program of up to 1 billion euros announced
| Note: The financial results are based on the new IFRS 9 (Financial Instruments) and IFRS 17 (Insurance Contracts) accounting standards, which have been adopted as of January 1, 2023. Comparative periods have been adjusted to reflect the application of these new accounting standards. | ||
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Excluding the application of transitional measures for technical provisions. |
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As always, natural catastrophes and adverse developments in the capital markets, as well as factors stated in our cautionary note regarding forward-looking statements may severely affect the operating profit and/or net income of our operations and the results of the Allianz Group. |
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