The Board of Directors has agreed to reduce the proposed dividend for the 2019 fiscal year to 0.07€ per share, which from 0.15€.
This dividend being the only dividend paid against 2019 fiscal year profits, which represents a 24.6% pay-out for 2019.
The current dividend has changed to a cash pay-out not higher than 30% of reported consolidated earnings.
The Board of Directors declares its intention to distribute, in future, any excess above a CET1 ratio of 12% in the form of special dividends and/or buybacks. This extraordinary distribution of capital will be subject to a prior return to normality of macroeconomic conditions and will not take place, in any case, before 2021.
See Inside Information 26-03-2020