July 29, 2020 / 5:42 AM / 9 days ago

BRIEF-Unicredit To Re-Instate Capital Distribution Policy From 2021

July 29 (Reuters) - UniCredit SpA:

* UNICREDIT CAPITAL DISTRIBUTION POLICY TO BE RE-INSTATED FROM 2021

* CONFIRMS IT WILL NOT PAY DIVIDENDS NOR DO SHARE BUYBACKS IN 2020

* WILL ALREADY ACCRUE CASH DIVIDEND FOR FY20 AT A RATE OF 30% OF UNDERLYING NET INCOME1

* DECISION TO EXTENDE DIVIDEND FREEZE IS NEUTRAL FOR COUPON PAYMENTS ON AT1 BOND AND CASHES INSTRUMENTS

* TO TARGET A 30% CASH DIVIDEND PAYOUT OF UNDERLYING NET PROFIT AND 20% FOR SHARE BUYBACK IN 2021 Source text for Eikon: Further company coverage: (Gdansk newsroom)

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