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Municipality Finance Plc’s Board of Directors has decided on the payment of dividend

Written by Customer Service on . Posted in Dividend Reports And Estimates.

Municipality Finance Plc
Stock exchange release
6 October 2021 at 1:00 pm (EEST)

Municipality Finance Plc’s Board of Directors has decided on the payment of dividend


Based on the authorization of the Annual General Meeting, the Board of Directors of Municipality Finance Plc (“MuniFin”) has decided that a dividend of EUR 0.52 per share, totalling EUR 20,313,174.96, is to be paid from the distributable funds of the company. The dividend will be paid on 25 October 2021 to a shareholder who on the dividend record date 18 October 2021 is registered as a shareholder in the company’s register of shareholders as maintained by the company.

MuniFin clearly fulfils all the prudential requirements set for it. The dividend amount has been already deducted from the Common Equity Tier 1 capital, and thus the distribution of dividend will not impact MuniFin’s capital adequacy or leverage ratio. Further, in the Board’s opinion, the distribution of dividend does not place the fulfilment of the capital requirements or the company’s liquidity in jeopardy.

On 15 December 2020, the European Central Bank (ECB) recommended that, due to the COVID-19 pandemic, until 30 September 2021 significant credit institutions exercise extreme prudence when deciding on dividends. MuniFin’s Annual General Meeting, held on 25 March 2021, authorized the Board of Directors to decide on a dividend of a maximum of EUR 0.52 per share, totalling EUR 20,313,174.96 and its payment in one or more instalments at a time it deems best, taking into account the current authority recommendations. On 23 July 2021 the ECB decided not to extend the dividend recommendation beyond September 2021.

MUNICIPALITY FINANCE PLC

Further information:

Esa Kallio
President and CEO
tel. +358 50 337 7953

MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions: the Group’s balance sheet totals close to EUR 46 billion. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.

MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers are Finnish municipalities, municipal federations, municipally controlled entities and non-profit housing organisations. Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.

MuniFin’s customers are domestic but the company operates in a completely global business environment. It is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.

The Municipality Finance Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd.

Read more: www.munifin.fi

 

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