Press release at March 31, 2020
31 Março 2020 - 1:05PM
Press release at March 31, 2020
Paris, March 31, 2020
Natixis press release
Natixis’ Board of Directors met today and
decided to follow the recommendations made by the European Central
Bank (ECB) on March 27, 2020 with regards to dividend distribution
in the context of uncertainties regarding the financial impacts of
the COVID-19 crisis.
As such, during the Annual General Meeting
scheduled for May 20, 2020, the Board of Directors will not put up
for vote the approval to pay a €0.31 dividend per share for the
fiscal year 2019 and this distribution will be removed from the
resolution proposal submitted by the Board of Directors to the
meeting regarding the appropriation of 2019 earnings.
Consequently, Natixis will release the FY19
dividend that was so far deducted from its CET1 ratio for
prudential purposes, having a positive ~100bps impact on Natixis’
capital position. Besides, in line with the current ECB
recommendations, no dividend accrual will be carried out throughout
2020 from a prudential standpoint.
Natixis’ Board of Directors will reconsider this
decision after October 01, 2020 in order to allow for a potential
distribution depending on the prevailing situation at that
time.
François Riahi, Natixis Chief Executive
Officer said: “In today’s challenging circumstances
related to the COVID-19 outbreak, our teams are fully mobilized to
support our clients, in every business line. It is our priority
today and this is why we are following the recommendations made by
the European Central Bank to keep all our resources available to
them over the coming months. Shareholder return remains a key
feature of our asset-light model but this unprecedented context
justifies taking a prudent approach and making a temporary
exception to our dividend policy.”
About NatixisNatixis is a
French multinational financial services firm specialized in asset
& wealth management, corporate & investment banking,
insurance and payments. A subsidiary of Groupe BPCE, the
second-largest banking group in France through its two retail
banking networks, Banque Populaire and Caisse d’Epargne, Natixis
counts nearly 16,000 employees across 38 countries. Its clients
include corporations, financial institutions, sovereign and
supranational organizations, as well as the customers of Groupe
BPCE’s networks. Listed on the Paris stock exchange, Natixis has a
solid financial base with a CET1 capital under Basel 3(1) of €11.2
billion, a Basel 3 CET1 Ratio(1) of 11.3% and quality long-term
ratings (Standard & Poor’s: A+ / Moody’s: A1 / Fitch Ratings:
A+). (1) Based on CRR-CRD4 rules as reported on June 26,
2013, including the Danish compromise - without phase-inFigures as
at 31 December 2019.
Contacts:
Investor
relations |
investorelations@natixis.com |
|
Damien SouchetNoémie
LouvelSouad Ed Diaz |
+33 1 58 55 41
10+33 1 78 40 37 87+33 1 58 32 68 11 |
|
|
|
|
Press Relations |
|
|
Daniel WilsonSonia
Dilouya |
+33 1 58 19 10
40 +33 1 58 32 01 03 |
daniel.wilson@natixis.comsonia.dilouya@natixis.com |
www.natixis.com
|
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- 200331_Press release_Natixis PR