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Allianz Withdraws Original Profit Target Range For FY20

German insurance and asset management company Allianz SE (AZSEY.PK), at its virtual Annual General Meeting on Wednesday, said it has withdrawn its original profit target range for fiscal 2020.

The company noted that there is uncertainty about the further effects of the Corona crisis on its business and on the global economy.

The company will announce new profit margin in due course.

Further, the proposal of the Board of Management and the Supervisory Board to distribute a dividend of 9.60 euros per share remains unchanged.

The dividend will be payed to shareholders following the approval at the AGM. The company said its approximately 700,000 shareholders as of April 30 will receive the dividend in a total volume of almost 4 billion euros at the scheduled time.

In Germany, Allianz shares were trading at 165.92 euros, up 1.57 percent.

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