By Matteo Castia

UniCredit SpA said Wednesday that it won't pay dividends or proceed with share buybacks this year, in line with the recommendations of the European Central Bank.

"This is neutral for coupon payments on AT1 bond and CASHES instruments," the company said.

The Italian bank said it will resume payouts next year, should the ECB not extend its recommendations.

Write to Matteo Castia at matteo.castia@dowjones.com

(END) Dow Jones Newswires

July 29, 2020 02:09 ET (06:09 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Unicredit (BIT:UCG)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Unicredit Charts.
Unicredit (BIT:UCG)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Unicredit Charts.