PTA-News: Erste Group Bank AG: Erste Group not to pay 2019 conditional dividend on 15 February 2021 as conditions are not met

Monday, 08. February 2021 10:55

Business news for the stock market

Vienna (pta019/08.02.2021/10:55) - On 10 November 2020 the annual general meeting resolved to pay a dividend of EUR 0.75 per share for the business year of 2019 on 15 February 2021, conditional upon no regulatory recommendation to refrain from such payments or no other legal restrictions being in force prohibiting such distributions on 8 February 2021.

On 15 December 2020 the European Central Bank asked banks to refrain from or limit dividends until 30 September 2021. The limits were set to the lower of 15% of cumulated 2019-20 profits or 20bps of the CET1 ratio. As the intended DPS of EUR 0.75 is expected to be in excess of 20bps of the CET1 ratio, any payment of such an amount would run counter to the ECB recommendation.

Erste Group continues to be committed to reward shareholders appropriately. Accordingly, Erste Group intends to make a dividend payment in line with regulatory recommendations following approval at the 2021 AGM in May 2021.

Once the ECB recommendation is withdrawn, Erste Group targets to remunerate shareholders appropriately, depending on capital and profitability performance. Further details on such plans will be provided with publication of preliminary FY2020 results on 26 February 2021.

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emitter: Erste Group Bank AG
address: Am Belvedere 1, 1100 Wien
country: Austria
contact person: Thomas Sommerauer / Simone Pilz
phone: +43 (0)5 0100 - 17326
e-mail: thomas.sommerauer@erstegroup.com
website: www.erstegroup.com

ISIN(s): AT0000652011 (share)
stock exchanges: official trade in Vienna
other stock exchanges: Bucharest Stock Exchange, Prague Stock Exchange

[ source: http://www.pressetext.com/news/20210208019 ]

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