Nordea Postpones Dividend Due to Coronavirus Pandemic
01 April 2020 - 5:05PM
Dow Jones News
By Dominic Chopping
Nordea Bank ABP said late Tuesday that in light of the
coronavirus pandemic and the related recommendation of the European
Central Bank, it has decided to postpone its planned 0.40-euro
($0.44) dividend.
The ECB considers it essential that banks conserve capital to
retain their capacity to support the economy in an environment of
heightened uncertainty caused by the pandemic. It has recommended
that significant credit institutions, at least until Oct. 1,
refrain from dividend distributions, commitments to pay out
dividends for 2019 and 2020 and from share buy-backs.
"The board of directors intends to follow the recommendation
adopted by the ECB and refrain from deciding on a dividend payment
based on the authorization before Oct. 1, 2020."
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
April 01, 2020 01:50 ET (05:50 GMT)
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