DGAP-Ad-hoc: Aareal Bank AG / Key word(s): Dividend
Aareal Bank to comply with the ECB's recommendation on dividend policy -
Situation will be re-assessed after 1 October 2020
Wiesbaden, 5 April 2020 - The Management Board of Aareal Bank AG has resolved - diverging from the proposal for the appropriation of profits, as published in the financial statements - to propose to the Annual General Meeting on 27 May 2020 that the net retained profit should not be used to distribute dividends at this point in time. With this decision - having conducted a detailed review - the Management Board therefore complies with a request by the European Central Bank (ECB) to institutions under its direct supervision to refrain from paying out any dividends for the financial years 2019 and 2020, at least until 1 October 2020. The Management Board reserves the right to submit a new proposal for appropriation of profits to a potential additional General Meeting at a later point in time - provided that the impact of the COVID-19 pandemic can be assessed with more certainty at that time, and that such proposal for appropriation of profits is feasible given the then-prevailing market situation.
Jürgen Junginger, Head of Investor Relations
05-Apr-2020 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
|Company:||Aareal Bank AG|
|Phone:||+49 (0)611 348 - 0|
|Fax:||+49 (0)611 348 - 2332|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange; Stockholm|
|EQS News ID:||1015729|
|End of Announcement||DGAP News Service|
1015729 05-Apr-2020 CET/CEST