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Bank SEB's board no longer plans to propose a dividend for 2019

Reuters
·1-min read
FILE PHOTO: SEB bank flag flutters next to the bank's building in Tallinn

STOCKHOLM (Reuters) - Swedish bank SEB said on Thursday its board no longer planned to propose to the annual general meeting that a dividend be paid to shareholders for 2019.

"Changing its previous proposal, the board of directors proposes that no payment of dividend will be made and that the entire amount available will be carried forward," it said in a statement.

SEB in March said it would evaluate whether to pay the proposed dividend after Sweden's financial watchdog and the government said banks should refrain from doing so due to the coronavirus outbreak.

(Reporting by Anna Ringstrom, Editing by William Maclean)