AIB to increase dividends and buy back shares

DUBLIN (Reuters) – AIB on Friday said it expects to be able to increase dividend payments and execute share buy-backs over the next two years, with a preference for buy-backs.

Chief Financial Officer Donal Galvin told analysts that the bank has a “strong business trajectory” and intends to increase its dividend payout on a “sustainable and growing basis”.

He said the bank intends to go “beyond and above” its current dividend policy of 40 to 60% in the period 2023-2025, and that at the current price to book valuation, management was very focused on the possibility of buying back its own shares.

(Reporting by Graham Fahy)