March 24, 2020 / 6:23 PM / 15 days ago

BRIEF-Sparebank Says New Dividend Is Recommended At Nok 5.00

March 24 (Reuters) - Sparebank 1 SMN:

* REG-SPAREBANK 1 SMN: DIRECTORS RECOMMEND DIVIDEND REDUCTION TO MEET THE CUMULATIVE EFFECTS OF THE CRISIS

* NEW DIVIDEND IS RECOMMENDED AT NOK 5.00 PER EQUITY CERTIFICATE.

* BOARD CONSIDERS RECOMMENDED CHANGE IN PAYOUT RATIO

* REDUCTION IN PAYOUT RATIO OF ABOUT NOK 300 MILLION STRENGTHENS BANK’S FINANCIAL POSITION BY ABOUT 0.3 PERCENTAGE POINTS.

* SOCIAL DIVIDEND IS REDUCED FROM NOK 474 MILLION TO NOK 364 MILLION, IN KEEPING WITH BANK’S DIVIDEND POLICY Source text for Eikon: Further company coverage:

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