Raiffeisen Bank International May Review 2019 Dividend
April 09 2020 - 2:04AM
Dow Jones News
By Pietro Lombardi
Raiffeisen Bank International AG may review its dividend for
2019 following a recommendation from the European Central Bank.
The Austrian banking group, which also postponed its shareholder
meeting, said late Wednesday that the dividend "may be reviewed
when the financial impact of Covid-19 is more clear."
A number of European banks canceled or suspended the payment of
dividends after the ECB asked the region's banks not to pay
dividends or buy back shares during the coronavirus pandemic.
The ECB wants banks to boost their ability to absorb losses and
support the economy as the eurozone braces for a sharp economic
slowdown caused by the pandemic. For this reason, it asked banks
not to pay dividends for 2019 and 2020 at least until Oct. 1,
adding that lenders should also avoid buybacks.
Raiffeisen has proposed a dividend of 1 euro ($1.09) per share
for 2019.
Write to Pietro Lombardi at pietro.lombardi@dowjones.com
(END) Dow Jones Newswires
April 09, 2020 01:49 ET (05:49 GMT)
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