Pop Milano says won't pay quarterly dividend on preferred securities
MILAN Dec 17 (Reuters) - Banca Popolare di Milano said on Tuesday it would not pay quarterly dividends on its preferred securities on the next payment date of Jan. 2, 2014.
It said the dividend freeze was in line with a previous decision to suspend payment of the annual coupon on Tier 1 notes after the mid-tier bank posted a full-year loss for 2012 and failed to pay a dividend on ordinary shares.
In a statement, the lender said that as a result no payment will be made on the Trust Preferred Securities either.
(Reporting by Silvia Aloisi)
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