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Dutch lender NIBC postpones dividend due to coronavirus pandemic

NIBC Bank NV has decided to postpone the payment of a dividend for 2019 until at least Oct. 1 this year, following a call by the ECB to postpone distributions in light of the effects of the coronavirus pandemic on the economy.

The Dutch bank will also refrain from share buybacks until this date.

The lender will nevertheless wishes to put its previous dividend proposal to the vote at the April 17 annual general meeting, according to a March 31 statement.

Many banks are responding to the ECB's call for no dividends to be paid. In the Netherlands, ING Groep NV, Rabobank and ABN AMRO Bank NV announced earlier in March that they are suspending their profit distributions.

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