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Banca Popolare di Milano Scarl says won't pay quarterly dividend on preferred securities-Reuters


Monday, 16 Dec 2013 07:00pm EST 

Banca Popolare di Milano Scarl:Banca Popolare di Milano said on Dec. 17 it would not pay quarterly dividends on its preferred securities on the next payment date of Jan. 2, 2014-Reuters.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. 

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