ABN AMRO Q4 Profit Dips; Commences Share Buyback Of Up To 500 Mln Euros

ABN AMRO Holding NV (ABNYY.PK) Wednesday said its profit before tax for the fourth quarter declined to 486 million euros from 729 million euros in the same period a year ago.

Net profit in the quarter decreased to 354 million euros or 0.37 euros per share from 552 million euros or 0.56 euros per share in the same period a year ago.

Net interest income, however, increased to 1.564 billion euros from 1.339 billion euros in the previous year. Net fee and commission income declined to 443 million euros from 446 million euros last year.

The company proposed a final dividend of 0.67 euros per share, to be paid on May 17, to shareholders on the record as on April 24.

Additionally, the company announced a share buyback of up to 500 million euros. This comprises depository receipts and ordinary shares of ABN AMRO Bank.

The share buyback will commence on February 9 and is expected to end no later than June 2023, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Ford Motor Co. has once again raised the price of its popular F-150 Lightning electric pickup truck after the automaker resumed its production that was halted following electric vehicle battery fire incident. The company will also resume shipments of the Lightning this week, reports said. Paducah, Kentucky-based Higdon Outdoors LLC is recalling certain battery packs and replacement batteries citing fire and/or burn hazards, the U.S. Consumer Product Safety Commission said. The recall includes lithium-ion battery packs and replacement batteries on XS Series Pulsators, Swimmers, Crazy Kicker, and Flasher motion decoys used for waterfowl hunting. New York-based Delta Enterprise Corp. is recalling about 43,380 units of 2-in-1 outdoor kids swings citing fall hazard, the U.S. Consumer Product Safety Commission said. This recall involves 2-in-1 Outdoor Kids Swing with model numbers SW86508MM, SW86516MN, SW86575MM, SW86576MN and SW86577PW.
Follow RTT