March 26, 2020 / 5:42 PM / in 12 days

BRIEF-OTP postpones AGM to April 30, sets aside money instead of dividend payment

March 26 (Reuters) - Hungary’s OTP Bank says in statement and Annual General Meeting proposals posted on Budapest Stock Exchange web site:

* ANNUAL SHAREHOLDERS’ MEETING TO BE POSTPONED TO APRIL 30 FROM APRIL 17 DUE TO CORONAVIRUS

* MONITORS SITUATION, MAY MODIFY PLANS IF NECESSARY

* TO SET ASIDE 19.3 BILLION FORINTS ($60 million) FROM 2019 PROFIT INTO GENERAL RESERVES

* INDICATES NO PLANS FOR DIVIDEND PAYMENT

* HUNGARY’S GOVERNMENT BANNED DIVIDEND PAYMENTS UNTIL SEPTEMBER

* OTP POSTED RECORD PROFIT IN 2019, POSTED 13% RISE IN DIVIDEND BEFORE CORONAVIRUS SURGE Source text for Eikon: bit.ly/3brdzS5 Further company coverage: ($1 = 322.1700 forints) (Reporting by Marton Dunai)

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