pbb withdraws its dividend proposal for the 2019 financial year, following ECB recommendation


Munich, 3 April 2020 The Management and Supervisory Boards of Deutsche Pfandbriefbank AG (pbb) have resolved today to withdraw the dividend proposal for the 2019 financial year, published on 4 March 2020, of €0.90 per no-par value share entitled to dividends. pbb thus complies with a recommendation issued by the ECB to all banks included in the SSM to refrain from paying out dividends for the 2019 financial year, or to refrain from doing so prior to 1 October 2020. In this way, pbb accounts for the particular challenges arising from the COVID-19 pandemic, contributing to related stabilisation efforts.

The Management and Supervisory Boards reserve the right to use the option – permitted by the ECB – to re-assess the market situation after 1 October 2020, and to submit a new dividend proposal to the General Meeting if the impact of the COVID-19 pandemic provides for greater certainty in decision-making.

pbb maintains its dividend policy published at the beginning of March 2020. Given the extraordinary situation of the world economy, this policy is subject to ongoing review.

Media Contact
Walter Allwicher, +49 89 2880-28787, walter.allwicher(at)pfandbriefbank.com

pbb Deutsche Pfandbriefbank (www.pfandbriefbank.com) is a specialist lender for commercial real estate finance and public investment finance in Europe and the United States of America. pbb is a major issuer of Pfandbriefe, which makes it also an important player in the European covered bond markets overall. pbb is listed on the Frankfurt Stock Exchange.