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- Announcement on CNB statement on dividend to be paid to Komerční banka’s shareholders in 2021
Announcement on CNB statement on dividend to be paid to Komerční banka’s shareholders in 2021
Prague, 13 September 2021 - Komerční banka, a.s., with its registered office at Na Příkopě 33/969, 114 07 Prague 1, registration No. 45317054, entered in the register of companies maintained with the Metropolitan Court of Prague, section B, file No.1360 (hereinafter also Komerční banka or the Bank), announces that the Bank received the statement from the Czech National Bank on Komerční banka’s plan for distributing of profits during 2021.
According to this information, the Czech National Bank (CNB) has assessed the plan of Komerční banka to pay a dividend in the amount of CZK 4,535 million and it has no objections against such payment. The mentioned amount was set in accordance with the limitations stipulated by the CNB for credit institutions in March 2021.
The CNB has also informed that it will no longer apply sector-wide restrictions for dividend payments according to its March 2021 announcement. Decisions of credit institutions on the profit distributions will be subject to standard supervision procedure for assessing individual intentions.
The CNB announced in its press release from 10 September 2021 that it expects banks to maintain conservative approach to profit distribution in order to preserve a safe level of capital adequacy. The CNB also expects that potential further dividend payments will be implemented only after the final financial results for 2021 are available and when the development and impacts of the pandemic in autumn and winter months are known.
In accordance with its communication during 2021, Komerční banka’s Board of Directors intends to call a general shareholders’ meeting in the fourth quarter of 2021 which will decide on its proposal to pay the dividends in the amount validated by the CNB, which corresponds to CZK 23.86 per share. The Bank will publish invitation to this shareholders’ meeting in due course.