Plus   Neg

Allianz Q4 Profit Climbs, Ups Dividend, Plans Buyback; Issues FY19 Profit View

German insurance and asset management company Allianz SE (AZSEY.PK) reported Friday that its fourth-quarter net income attributable to shareholders climbed 18.9 percent to 1.7 billion euros from 1.43 billion euros last year due to an improved non-operating result and lower income taxes.

Earnings per share grew to 3.93 euros from 3.24 euros a year ago. Operating profit edged up 0.4 percent to 2.8 billion euros.

Total revenues increased to 32.7 billion euros from prior year's 31.7 billion euros. Internal revenue increased 4.4 percent.

Further, the Board of Management will propose a dividend of 9 euros per share for 2018, up 12.5 percent compared to 2017.

The company also announced a new share buy-back program of up to 1.5 billion euros on February 14.

Looking ahead for fiscal 2019, the company projects operating profit of 11.5 billion euros, plus or minus 500 million euros, barring unforeseen events. In 2018, operating profit was 11.5 billion euros.

For comments and feedback contact: editorial@rttnews.com

Business News

Follow RTT