Bank of Valletta plc - Postponement of Dividend

On 1 April 2020, Bank of Valletta plc issued an announcement providing an update on its intention to propose, subject to regulatory approval, a final net dividend of €0.017 per share for the 2019 financial year. In this respect, BOV explained that in light of the ‘COVID-19’ pandemic, and following a strong recommendation of the European Central Bank of 27 March 2020 on dividend distributions applicable to all European banks, the bank has decided to keep the initial proposal for distribution of the dividend but make the actual payment conditional on the reassessment of the situation once the uncertainties caused by ‘COVID-19’ disappear, the earliest of which, in line with the ECB’s recommendation, would be 1 October 2020.

BOV further explained that it entered 2020 with a robust capital base and strong liquidity buffers. The bank is closely monitoring the situation and constantly assessing the impact of the ‘COVID-19’ pandemic, including the conservation of capital for supporting its clients, both businesses and retail, and the Maltese economy at large by offering a range of supports in a responsible and prudent way.

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