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Commerzbank Suspends Dividend

Commerzbank said that the Board of Managing Directors will not propose a dividend payment for the financial year 2019 to the Annual General Meeting 2020. It will not plan for a dividend payment for the current fiscal year 2020 until the uncertainties caused by the CoronaVirus pandemic have ended.

The European Central Bank has recommended banks from 27 March 2020 not to pay a dividend for 2019 and 2020 until at least 1 October 2020, due to the uncertainties caused by the Corona Virus pandemic.

As per the new German law, the Bank plans to hold its Annual General Meeting this year as a virtual online event. The Meeting will be held on 7 May 2020 as originally scheduled or at a later date.

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