Standard Bank confirms FY19 final dividendSource: RNS
Standard Bank Group Limited
9 April 2020
Payment of final 2019 ordinary dividend
Further to the announcement released on the Stock Exchange News Service of the JSE Limited on 7 April 2020, shareholders are advised that Standard Bank will proceed with the payment of the final ordinary dividend of 540 cents per ordinary share for the period ended 31 December 2019 on Tuesday, 28 April 2020, in accordance with the declaration made on 5 March 2020.
The board of directors of Standard Bank (board) reaffirmed the decision made on 4 March 2020 to pay the final 2019 ordinary dividend, having considered regulatory and legal requirements.
Furthermore, the group notes the recommendations outlined in Guidance Note 4/2020 issued by the Prudential Authority on 6 April 2020, in particular, that no distribution of dividends on ordinary shares and no payment of cash bonuses to executives and material risk takers should take place in relation to the 2020 financial year. The board will take this into account in its deliberations in relation to 2020 ordinary dividends and cash bonuses.
Standard Bank recognises the importance of dividends to the group's shareholders. However, it also recognises the need to support the real economy in the form of funding to households and businesses amid the Covid-19 pandemic and the importance of ensuring the stability of the group in the short, medium and long term.
The group remains well capitalised and liquid.
The information contained in this announcement has not been reviewed or reported on by the group's auditors.
For further information, please contact:
Standard Bank Group Limited
5 Simmonds Street, Johannesburg PO Box 2001
Telephone number: +27 11 415 4194
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