The BMW management wants to have the share buybacks decided by the annual general meeting in May.
(Photo: Reuters)
Munich BMW looks back on a year of records. Despite the corona pandemic and a lack of chips, the Munich car manufacturer was able to more than triple its profit in 2021 to 12.5 billion euros. Never before in their history have Bayern earned so much money.
The shareholders should also benefit from the good business development. On the one hand, BMW wants to raise the dividend from 1.90 to 5.80 euros per share. On the other hand, the Management Board and Supervisory Board are planning to buy back shares amounting to up to ten percent of the share capital over the next five years.
This project is now met with criticism: “The car industry is still in the midst of a gigantic upheaval. Starting a share buyback program in such a phase is anachronistic,” said Marc Tüngler, general manager of the German Protection Association for Securities Ownership (DSW), the Handelsblatt. “BMW will regret that in retrospect. It’s a complete waste of money.”
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