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Deutsche Post raises annual dividend; warns of challenging 2023

BERLIN (Reuters) – Deutsche Post increased its dividend for 2022 to 1.85 euros per share after a record year on Thursday, up from 1.80 euros a year earlier, and was expanding its share buyback programme, but flagged a challenging year ahead.

The buyback programme will be increased by 1 billion euros ($1.05 billion) to a total volume of up to 3 billion euros, the company said.

However, the German logistics company, which owns DHL, warned of economic uncertainty in the current year.

“The slowing macroeconomic growth momentum is reflected in our EBIT outlook. That is why we are acting particularly prudent in the first half of 2023 and focusing on our yield and cost management,” Chief Financial Officer Melanie Kreis said.

The company said its 2023 earnings before income and tax (EBIT) guidance covers three scenarios and ranges from 6-7 billion euros, with an EBIT target of more than 8 billion for 2025.

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($1 = 0.9480 euros)

 

(Reporting by Matthias Inverardi, Writing by Rachel More; Editing by Rashmi Aich)

 

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