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UniCredit's Board Withdraws AGM Resolution On 2019 Dividend Distribution

UniCredit (UCG,UNCFF.PK) announced that its Board has resolved to withdraw the proposed AGM resolutions: to distribute a fiscal 2019 dividend of 0.63 euros per share from profit reserves; to authorise a share buyback up to 467 million euros; and to cancel the treasury shares that may be purchased. The company's decision follows the ECB's recommendation to not pay dividends until at least October 2020.

The Group will release the fiscal 2019 dividend deducted up to now from CET1 capital for prudential purposes. The board will resolve to amend the fiscal 2020 dividend policy, and will not yet accrue any dividend for 2020.

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