Brief: Alm. Brand Bod Proposes Ordinary Dividend Of DKK 0.55 Per Share

ALM. Brand A/S

08/02/2024 07:37

Feb 8 (Reuters) - ALM. Brand A/S  ALMB.CO :
    * BOD PROPOSES THAT AN ORDINARY DIVIDEND OF DKK 0.55 PER
SHARE BE
PAID IN RESPECT OF 2023 FINANCIAL YEAR
    * BOD PROPOSES CURRENT SHARE BUYBACK PROGRAMME BE INCREASED
BY DKK
100 MILLION TO DKK 300 MILLION, MAKING FOR A TOTAL DISTRIBUTION
OF DKK 1,148 MILLION, EQUIVALENT TO 98% OF ADJUSTED PROFIT AFTER
TAX
    * 2024 OUTLOOK: EXPECTS TO REALISE AN INSURANCE SERVICE
RESULT OF
DKK 1.40-1.60 BILLION EXCLUDING RUN-OFFS
    * 2024 OUTLOOK: PROFIT GUIDANCE INCLUDES SYNERGIES IN A
TOTAL
AMOUNT OF DKK 450 MILLION
    * 2024 OUTLOOK: EXPENSE RATIO IS EXPECTED TO BE ABOUT
17-17.5%,
AND COMBINED RATIO EXCLUDING RUN-OFFS IS EXPECTED TO BE ABOUT
87-89
    * 2024 OUTLOOK: EXPECTS TO REPORT A CONSOLIDATED PRE-TAX
PROFIT OF
DKK 1.53-1.73 BILLION EXCLUDING SPECIAL COSTS
    * 2024 OUTLOOK: INVESTMENT RESULT IS EXPECTED TO BE ABOUT
DKK 250
MILLION BASED ON CURRENT ESTIMATED HOLDING PERIOD RETURNS ON
PORTFOLIO NOT ALLOCATED TO HEDGING OF PROVISIONS, WITH OTHER
ACTIVITIES EXPECTED TO GENERATE A LOSS OF ABOUT DKK 125 MILLION
    * MAINTAINS ITS TARGETS FOR PERIOD UNTIL 2025 AND AIMS TO
INCREASE
INSURANCE SERVICE RESULT TO DKK 2.1 BILLION, INCLUDING RUNOFFS,
AND REDUCE COMBINED RATIO TO 84, INCLUDING A REDUCTION OF
EXPENSE RATIO TO 16

Source text for Eikon:  ID:nGNE3MZHrw 
Further company coverage:  ALMB.CO 

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