By Matteo Castia

 

UniCredit SpA said Wednesday that it won't pay dividends or proceed with share buybacks this year, in line with the recommendations of the European Central Bank.

"This is neutral for coupon payments on AT1 bond and CASHES instruments," the company said.

The Italian bank said it will resume payouts next year, should the ECB not extend its recommendations.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 

(END) Dow Jones Newswires

July 29, 2020 02:09 ET (06:09 GMT)

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