By Adria Calatayud

Deutsche Telekom plans to buy back up to 2 billion euros ($2.11 billion) of its own shares next year and to propose a higher dividend, boosting returns to shareholders on the back of its performance in 2023.

The German telecommunications group said its management board will propose a dividend of EUR0.77 a share for 2023 to be paid next year, up from EUR0.70 for 2022.

The company's supervisory board will decide on the dividend once the results for this year are available and payment will be subject to approval by shareholders, it said.

At 1226 GMT, shares in Deutsche Telekom traded 2.7% at EUR21.28 on the news.

Write to Adria Calatayud at adria.calatayud@dowjones.com

(END) Dow Jones Newswires

November 02, 2023 08:45 ET (12:45 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.
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