Extract from the Universal Registration Document 2020
Important notice : when the annual results were published on February 6, 2020, the Board of Directors decided to propose to the General Meeting of May 19, 2020 a dividend of € 2.20 per share.
Following the European Central Bank's recommendation of 27 March 2020 to euro zone financial institutions to suspend dividend distributions and share buyback programs in light of the Covid-19 pandemic until at least October 2020, the Board of Directors' meeting of 31 March 2020 decided to discontinue the proposed dividend payment for the 2019 financial year. On July 28, 2020, the European Central Bank extended its recommendation to banks not to pay dividends and not to proceed with share buy-backs until January 2021. The European Central Bank will examine whether this guidance remains appropriate in the fourth quarter of 2020, taking into account the economic environment, the 46 stability of the financial system and the adequacy of capital requirements. During the second half of 2020, the Board of Directors will propose guidelines for dividends distribution to shareholders. In addition, as part of the support measures and actions taken by central banks and national governments, restrictions or additional recommendations relating to the management of its activities, as well as on its distribution and capital allocation policies could be issued.