Crédit Agricole: no dividend for 2019
(CercleFinance.com) - Crédit Agricole has announced that its Board of Directors has decided to propose, at its AGM of 13 May, the appropriation of all of its 2019 income to a reserve account, which will improve its CET1 ratio by around 60 basis points.
The bank explains that its intention to pay dividends for 2019 now appears to be incompatible with the recommendations issued by the ECB, which requests banks not to pay dividends as the coronavirus crisis continues.
Over the second half of 2020, the board will propose distribution guidelines to shareholders, which could notably consist of the payment of an interim dividend for 2020 results or an exceptional distribution.
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