By Joshua Kirby
Allianz SE will increase its shareholder dividend by at least 5% on year starting with this year's payout, the German insurer said late Thursday.
Ahead of its capital-markets day Friday, Allianz set out its dividend policy, under which the regular payout remains at 50% of adjusted group net profit, but with a further objective of paying out at least 5% more each year than the year before. This will apply to the dividend for 2021, Allianz said.
The policy, which aims to be "attractive" to shareholders, is subject to a sustainable Solvency II capitalization ratio now above 150%, the insurer added.
The company said it will also continue to aim to return excess capital to investors in a flexible manner, through, for example, share buybacks.
Write to Joshua Kirby at joshua.kirby@wsj.com; @joshualeokirby
(END) Dow Jones Newswires
12-03-21 0123ET