By Andrea FiguerasMunich Re said that it intends to buy back up to 1.5 billion euros ($1.62 billion) worth of shares and proposed an increased dividend for 2023. The Bavarian company's management board also proposed a dividend for 2023 of EUR15 a share, up from EUR11.60 a share a year earlier, an increase of 29.3%. The proposed dividend would yield 3.56% based on Monday's stock price. The dividend payment is subject to the resolution of the annual general meeting, it said, adding that its capital repatriation will amount to a total of EUR3.5 billion. Write to Andrea Figueras at andrea.figueras@wsj.com(END) Dow Jones NewswiresFebruary 26, 2024 13:41 ET (18:41 GMT)Copyright (c) 2024 Dow Jones & Company, Inc.

Source: Wall Street Journal February 27, 2024 00:50 UTC