NORDEA BANK ABP EQS-News: Nordea Bank Abp: Nordea follow updated ECB recommendation dividend

Directive transparence : information réglementée

17/12/2020 08:00

EQS Group-News: Nordea Bank Abp / Key word(s): Dividend
Nordea Bank Abp: Nordea follow updated ECB recommendation dividend

17.12.2020 / 08:00

Nordea to follow the updated ECB recommendation on dividend

Nordea Bank Abp
Stock exchange release - Other information disclosed according to the rules of the Exchange
16 December 2020 at 20.45 EET

On 15 December 2020 the European Central Bank (ECB) announced its updated dividend recommendation to banks.

The ECB in general expects dividends and share buy-backs to remain below 15% of the cumulated profit for 2019 and 2020 and not higher than 20 basis points of the Common Equity Tier 1 (CET1) ratio until the end of September 2021. Banks are expected to have a dialogue with the ECB before announcing any dividends or share buy-backs to the market.

Nordea is one of the best capitalised banks in Europe with capacity to distribute capital and support its customers. At the end of Q3 2020 Nordea's CET1 ratio was 16.4%, 6.2%-points above the current regulatory requirement. However, the Board of Directors of Nordea also acknowledges the updated recommendation adopted by the ECB on 15 December 2020, and on 16 December 2020 the Board of Directors decided to follow the updated ECB recommendation. Nordea will as a next step contact the ECB to discuss the level of intended distribution.

The Board of Directors of Nordea is authorised by the 2020 AGM to decide on a dividend payment of a maximum of EUR 0.40 per share for the financial year 2019 to be distributed in one or several instalments. Subject to the dialogue with the ECB, Nordea will publish any possible decisions on dividend payment separately and simultaneously confirm the dividend record and payment dates.

Nordea's full-year results 2020 will be released on 4 February 2021 and will, subject to the dialogue with the ECB, include a dividend proposal for the financial year 2020.

Nordea's capital and dividend policy is unchanged and the bank is well positioned to distribute additional dividends after 30 September 2021.

For further information:
Matti Ahokas, Head of Investor Relations, +358 9 53008011
Group Communication, +358104168023 or press@nordea.com

The information provided in this stock exchange release was submitted for publication through the agency of the contact persons set out above, at 20.45 EET on 16 December 2020.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

End of Media Release

Language: English
Company: Nordea Bank Abp
Smålandsgatan 17
105 71 Stockholm
ISIN: CH0284415681
Valor: A1Z2TU
Listed: SIX Swiss Exchange
EQS News ID: 1155888

End of News EQS Group News Service

1155888  17.12.2020