bpost could cancel final dividend payment

The bpost Board of Directors proposes to cancel the May 2020 final dividend payment due to COVID-19.

The company has said: “Considering the uncertain length and severity of the COVID-19 crisis and its impact on bpost Group, the Board of Directors will propose to the ordinary General Meeting of Shareholders to be held on May 13, 2020 to distribute a gross dividend per share on the results of full year 2019 of EUR 0.62 instead of EUR 0.73 as communicated in the FY19 results press release of March 17, 2020.

This would imply that, since an interim dividend of EUR 0.62 gross per share was already paid on December 9, 2019, no further dividend on the results of full year 2019 will be paid.

“bpost Group remains fully committed to delivering sustainable shareholder returns. However, in the present exceptional circumstances, the Board wants to prioritise the strength of bpost’s balance sheet and cash reserves for the long-term.”bpost Group continues to closely monitor the impact of the COVID-19 virus on its operations and financials. Given the uncertainties and ongoing developments, bpost Group is not in a position to date to accurately and reliably estimate the quantitative impact and will communicate as soon as this assessment can be made.”