Brief: Groenlandsbanken Proposes To Withdraw Dividend, Cuts Pretax Profit Outlook

Groenlandsbanken A/S

18/03/2020 14:35

March 18 (Reuters) - Groenlandsbanken A/S  GRLA.CO :
    * REG-CHANGE IN PROPOSED PAYMENT OF DIVIDEND CONCERNING THE
2019
FINANCIAL STATEMENTS, AND CHANGE IN EXPECTATIONS OF THE ANNUAL
RESULT FOR 2020, AS A CONSEQUENCE OF INCREASED MARKET
UNCERTAINTY RELATED TO COVID-19
    * AS A CONSEQUENCE OF COVID-19, BANK OF DIRECTORS OF BANK OF
GREENLAND HAS DECIDED TO RECOMMEND TO AGM THAT DIVIDEND PAYMENT
OF DKK 30 PER SHARE PROPOSED IN ANNUAL ACCOUNTS FOR 2019 BE
CHANGED TO DKK 0 PER SHARE
    * DECIDED TO RECOMMEND TO AGM THAT DIVIDEND PAYMENT OF DKK
30 PER
SHARE PROPOSED IN ANNUAL ACCOUNTS FOR 2019 BE CHANGED TO DKK 0
PER SHARE
    * IT IS EXPECTED THAT BANK OF GREENLAND'S FINANCIAL RESULT
FOR
2020 WILL BE NEGATIVELY AFFECTED
    * IS CHANGING ITS EXPECTATIONS OF PROFIT FOR YEAR BEFORE TAX
FROM
INTERVAL OF DKK 120-140 MILLION TO INTERVAL OF DKK 80-130
MILLION

Source text for Eikon:  ID:nGNEnv40h 
Further company coverage:  GRLA.CO 

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