BPI maintains payment of dividends to shareholders

The crisis of the pandemic advises that banks should not distribute dividends to their shareholders. But there are banks that will maintain their shareholder remuneration policy, against what the European Central Bank has indicated. While CaixaBank cut in half the dividend to be distributed, BPI maintains the shareholder remuneration advanced by Jornal de Negócios on Monday.

“The ECB recommends that, at least until October 1st, 2020, no dividends should be paid, no irrevocable commitment should be made by credit institutions to pay dividends relating to 2019 and 2020, and that credit institutions should refrain from repurchasing shares to remunerate shareholders,” indicated the European Central Bank.

BPI says it will distribute dividends to the CaixaBank parent company. The BCP has already taken a decision. Just as ECO advanced a week ago, the bank led by Miguel Maya canceled the shareholder remuneration due to the impact of the coronavirus, opting to compensate workers with 5.3 million euros.