Unicredit Shares Rise After EUR2.5 Billion Buyback Plan Disclosed
20 September 2023 - 7:45PM
Dow Jones News
By Pierre Bertrand
Shares of Unicredit rose Wednesday after the Italian bank said
it intends to buy back 2.5 billion euro ($2.67 billion) worth of
its shares as part of its 2023 buyback program.
At 0904 GMT shares traded 3.9% higher to EUR22.93.
The start of the buyback is dependent on shareholder approval
and an extraordinary meeting will take place on Oct. 27 to go over
the plan, it said. The bank added it will also require supervisory
approval.
Its total distribution target is set at a minimum of EUR6.5
billion for the year, compared with EUR5.25 billion in 2022,
corresponding to a total yield of more than 16%, it said.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
September 20, 2023 05:30 ET (09:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
Unicredit (BIT:UCG)
Historical Stock Chart
From Dec 2024 to Jan 2025
Unicredit (BIT:UCG)
Historical Stock Chart
From Jan 2024 to Jan 2025