UniCredit S.p.A ("UniCredit", "The Company") informs it has received ECB authorization for the execution of the remainder of the 2023 share buy-back programme for a maximum of Euro 3,085 million.
The approval was based on financial information provided by the Company that demonstrated robust capital and a resilient model in stress scenarios.
The first tranche of the 2023 share buyback - in an amount of Euro 2,500 million - was concluded on 7 March 2024.
Together with the proposed dividend this leads to a total 2023 distribution of Euro 8.6 billion: an increase of circa Euro 3.35 billion versus 2022.
Proforma for this distribution UniCredit's CET1 ratio is 15.9% as at 2023 year-end.
This underlines UniCredit's commitment to attractive and sustainable shareholder returns while maintaining strong capital and underpins the company's confidence in delivering ongoing attractive shareholder returns and creating long term value.
Commencement of the buy-back programme, as well as the dividend for a maximum of Euro 3,015 million, is dependent upon the approval by shareholders at the Shareholders' Meeting convened on 12 April 2024. Please refer to the Company website for further details on it.
Due to black-out period restrictions, the share buy-back is expected to commence as soon as possible following first quarter 2024 financial results to be released on 7 May 2024, subject to shareholder approval and market conditions.
Milan, 11 April 2024
Contacts
Media Relations: e-mail MediaRelations@unicredit.eu
Investor Relations: e-mail InvestorRelations@unicredit.eu