AXA shares, with a maximum amount of €1.1 billion, are now being bought back by insurance companies, having started a new share buyback program effective 27 February.
In a separate announcement following its recent financial release, AXA said it had entered into a share buyback agreement with an investment services provider for the new program.
“On each day during the purchase period, the price per share payable by AXA will be determined based on the volume-weighted average share price,” the global insurance group noted. “AXA intends to cancel all of the shares bought back under this share buyback program.”
According to AXA, the share buyback – which is conducted alongside other potential buyback deals the company may launch – will end no later than May 16.
“Given our strong performance in 2022 and strong balance sheet, the board of directors proposed a dividend of €1.70 per share, up 10%, and, again, approved a share buyback of up to €1.1 billion,” said chief executive Thomas Buberl when AXA published its latest set of financial results.