Erste Group’s dividend policy is guided by the bank’s profitability, growth outlook and capital requirement.
Due to the Covid-19induced restrictions, the Annual General Meeting originally scheduled for 13 May was postponed to 10 November 2020 and held virtually. On 10 November 2020, the AGM resolved to pay a dividend of EUR 0.75 per share for the fiscal year 2019, conditional upon no regulatory recommendation to refrain from such payments or no other legal restrictions being inforce prohibiting such distributions on 8 February 2021. On 15 December 2020, the ECB asked banks to refrain from or limit dividends until 30 September 2021. As the conditions to pay the dividend were not met, no dividend for the fiscal year 2019 was paid out.
The AGM held on 19 May 2021, entirely online for a second consecutive year due to the Corona crisis, approved the Management Board’s proposal to distribute an adjusted dividend of EUR 0.50 per share. The dividend payout takes into account the European Central Bank’s recommendation on limiting dividend distributions during the Covid-19 pandemic. Dividend payment date was 27 May 2021 subject to withholding tax. An additional EUR 1 per share has been reserved for a potential later payment.
Dividend Announcement - Annual General Meeting 2021
Press Release - Annual General Meeting 2021