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DNB - DNB ASA News Story

NOK179.6 -5.6  -3.0%

Last Trade - 20/04/21

Sector
Financials
Size
Large Cap
Market Cap £24.66bn
Enterprise Value £64.16bn
Revenue £5.24bn
Position in Universe 29th / 1829

UPDATE 1-Norway's DNB announces 2019-2020 dividends after Q4 earnings beat

Wed 10th February, 2021 6:55am
(Adds detail)
    OSLO, Feb 10 (Reuters) - Norway's DNB  DNB.OL  announced
dividend payments for 2019 and 2020 on Wednesday and reported a
smaller than expected drop in fourth-quarter earnings.
    The banking group's net profit fell to 5.27 billion
Norwegian crowns ($624 million) for the October-December period
from 5.95 billion a year earlier, beating an average forecast of
4.19 billion crowns in a poll of analysts.
    Norway's biggest bank set a dividend of 8.4 crowns per share
for 2019, which had been held up by the country's financial
supervisory authority in response to the COVID-19 pandemic, and
and proposed paying up to 9.0 crowns for 2020.
    Norway's finance ministry last month ruled that banks must
limit their dividend payments to a maximum of 30% of the joint
profits for 2019 and 2020.  urn:newsml:reuters.com:*:nFWN2JV0IR
    DNB's shareholders in November authorised its board to
decide a dividend for 2019 of up to 9 crowns per share, pending
the regulatory approval.
    If the 2020 dividend is aproved by shareholders, it will
become "applicable from September 2021 until the Annual General
Meeting next year", DNB said.
    
($1 = 8.4423 Norwegian crowns)

 (Reporting by Victoria Klesty; editing by Terje Solsvik)
 ((victoria.klesty@thomsonreuters.com; +47 2331 6592; Reuters
Messaging: victoria.klesty.thomsonreuters.com@reuters.net))
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