Swedbank Proposes Further Dividend Relating to 2019 and 2020 of SEK7.30 a Share

By Dominic Chopping

STOCKHOLM--Swedbank AB said Friday that it is proposing an ordinary dividend relating to the financial years 2019 and 2020 of 7.30 Swedish kronor ($0.83) a share.

"After having evaluated the bank's ability to continue supporting customers and taken into account that the Swedish Financial Supervisory Authority has not prolonged its recommendation that banks be restrictive with dividends and share buybacks, the board of directors has decided to propose a further ordinary dividend relating to the financial years 2019 and 2020," it said.

It said Nov. 1 is proposed as the record date for the dividend, which means that the dividend is expected to be paid on Nov. 4.

Swedbank paid two dividends totalling SEK7.25 a share earlier this year and previously said it aimed to pay additional dividends this year from profits for 2019 and 2020, dependent on the Swedish FSA's consent and the right market conditions.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

October 01, 2021 03:19 ET (07:19 GMT)

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