Norway's DNB to decide on 2019 dividend "no later than December"

OSLO, April 2 (Reuters) - Norway’s biggest bank DNB has postponed its annual general meeting and will decide whether to pay a dividend for 2019 at an extraordinary general meeting held “no later than December 2020,” it said on Thursday.

A decision on share buybacks will similarly be put off to a later time, DNB added.

Norway’s financial industry regulator has told banks to reconsider their dividend plans and share buybacks in light of the economic disruption caused by the coronavirus outbreak.

The Norwegian government is DNB’s largest shareholder, owning just over one third of the bank’s stock.

DNB in February proposed a dividend of 9 Norwegian crowns per share for 2019, up 0.75 crown from a year earlier, and also said it planned to increase its share buyback programme to 2.0% of its overall stock. (Reporting by Victoria Klesty, editing by Terje Solsvik)