FRANKFURT (Reuters) -Deutsche Bank said on Wednesday it will undertake a 300 million euro ($338.52 million) share buyback and pay a dividend for 2021.

The share buyback will be completed in the first half of this year. The dividend has been set at 0.20 euro per share.

Germany’s largest lender last paid a dividend of 11 cents in 2019 for 2018.

Deutsche said the two moves will give shareholders around 700 million euros in capital.

It represents a “first step towards a previously announced commitment to return 5 billion euros of capital to shareholders over time”, the bank said.

($1 = 0.8862 euros)

(Reporting by Tom Sims and Frank Siebelt; Editing by Jan Harvey and Barbara Lewis)