1 Min Read
FRANKFURT, Oct 4 (Reuters) - Commerzbank expects to make no dividend payment for the next couple of years as it carries out a radical restructuring of its business, rolls out digitalisation and slashes costs, including thousands of jobs.
"During the years 2017 and 2018, where we see the most part of the transformation process and the charges there, we don't see in the moment a dividend payment," Chief Executive Martin Zielke told analysts in a Capital Markets Day presentation.
"Afterwards, for sure, if the environment does not change dramatically, we will analyse that and then we have to discuss and talk a good deal about the perspectives for a dividend," he added.
Zielke said he did not want to give a clear indication for the dividend in 2019 and 2020, the final year of its current transformation programme.
Commerzbank said last week it was suspending its dividend for the time being to help pay for its overhaul. (Reporting by Jonathan Gould; Editing by Arno Schuetze)