UniCredit Loss Widens in 4Q; Declares Dividend, Share Buyback Program
10 Febrero 2021 - 3:27PM
Noticias Dow Jones
By Adriano Marchese
UniCredit SpA said Wednesday that losses widened in the fourth
quarter as revenue fell in the period, and said that it will
propose a buyback program of 179 million euros ($217 million).
The Italian bank said that net loss was EUR1.18 billion euros,
compared with a loss of EUR835 million in the prior year fourth
quarter.
On an underlying basis--the company's preferred metric which
excludes exceptional items--net profit was EUR204 million, down
from EUR1.42 billion.
Revenue also fell in the period to EUR4.24 billion, from EUR4.85
billion.
UniCredit said that it will propose at its annual general
meeting a distribution of EUR268 million in cash dividend, as well
as a share buyback program worth EUR179 million. Combined with the
extraordinary distributions, the company said total capital return
to shareholders in 2021 is EUR1.1 billion.
Looking ahead to the full year, the company said that it expects
underlying net profit of more than EUR3 billion, with revenues and
costs in-line with previous guidance.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
February 10, 2021 16:12 ET (21:12 GMT)
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