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Munich Re to stick with dividend, share buybacks - CFO

Published 2016-05-10, 04:46 a/m
© Reuters.  Munich Re to stick with dividend, share buybacks - CFO
MUVGn
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FRANKFURT, May 10 (Reuters) - Munich Re MUVGn.DE does not
intend to cut back on its dividend or share buybacks, the German
reinsurer's chief financial officer said on Tuesday, after the
company trimmed its 2016 net profit forecast in view of a weak
first quarter.
Even if profit should come in below 2.3 billion euros ($2.6
billion), the company would stick with its at least stable
dividend and planned share buybacks, CFO Joerg Schneider said in
a conference call.
Schneider said that the reinsurer's dividend for this year
would at least be equal, or even slightly above, last year's
payment. Its dividend for 2015 is 8.25 euros per share, and it
is to start share buybacks totalling 1 billion euros soon.
($1 = 0.8782 euros)

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