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Nordea Issues Largest Dividend Payout in Finnish Stock Market History
Nordea Bank has announced that it will issue the largest dividend payout to shareholders in the history of the Finnish stock market later this month.
The sum, amounting to around 2.9 billion euros, grew to its exceptional size due to a ban on dividends by the Financial Supervision Authority that expired at the end of September.
The ban was prompted by guidance from the European Central Bank (ECB) which recommended that banks refrain from issuing dividends in 2020 and 2021, with the reasoning that it wanted banks to have a buffer of funds if it was needed during the Covid crisis.
The dividends to be paid out include shareholder payments originally planned to be distributed this year and in 2020.
Shareholders are to receive a dividend of 72 cents per share on 12 October, according to the bank. Nordea said that the dividend distribution would not impact its capital adequacy.
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