FRANKFURT (dpa-AFX) - Allianz shares benefited prematurely on Friday from lavish dividend payments to shareholders. The insurance group's results were not the driving force behind the share price rising by almost two percent in Tradegate trading compared to the Xetra closing price. In initial reactions, traders also described the outlook as weak.

Allianz had already announced a dividend increase and a new share buyback program the previous evening. The dividend for 2023 is to be raised by 2.4 euros to 13.80 euros per share, which is above market expectations. The change in dividend policy comes as a surprise, said JPMorgan analyst Kamran Hossain in an initial reaction.

However, a Borsianer mentioned the risk that investors could take profits during the course of the day. The Allianz share price recently reached a 20-year high of over 250 euros. This year, the shares are in the top third of the DAX, up more than five percent./tih/jha/