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UniCredit: wants to reinstate dividend from 2021

( - UniCredit on Wednesday confirmed that it will not pay dividends nor make any share buybacks in 2020, following the ECB's recommendations on this matter.

Should the ECB decide not to extend its guidelines, Italy's biggest bank said that it will resume capital distribution in 2021 for financial year 2020, planning to distribute 50% of net profit to shareholders.

Specifically, UniCredit said it targets a 30% cash dividend payout of its net profit, with 20% via share buybacks.

The bank will report its second-quarter results on 6 August.

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