Municipality Finance Plc
Exit on the stock market
October 6, 2021 at 1:00 p.m. (EEST)
The Board of Directors of Municipality Finance Plc has decided on the payment of the dividend
Based on the authorization of the Annual General Meeting, the Board of Directors of Municipality Finance Plc (âMuniFinâ) decided that a dividend of EUR 0.52 per share, for a total amount of 20,313 174.96 EUR, will be withdrawn from the distributable funds of the company. The dividend will be paid on October 25, 2021 to a shareholder who, on the date of registration of the dividend on October 18, 2021, is registered as a shareholder in the register of shareholders of the company kept by the company.
MuniFin clearly fulfills all the prudential requirements imposed on it. The amount of the dividend has already been deducted from Common Equity Tier 1 capital, and therefore the distribution of the dividend will not impact the capital adequacy or leverage ratio of MuniFin. In addition, in the opinion of the Board, the distribution of dividends does not jeopardize compliance with capital requirements or the liquidity of the company.
On December 15, 2020, the European Central Bank (ECB) recommended that due to the COVID-19 pandemic, until September 30, 2021, large credit institutions exercise extreme caution when deciding on dividends. The General Assembly of MuniFin, held on March 25, 2021, authorized the Board of Directors to decide on a dividend of a maximum amount of EUR 0.52 per share, for a total amount of EUR 20,313,174.96 and its payment in one or more installments at the time it deems most appropriate, taking into account the current recommendations of the authority. On July 23, 2021, the ECB decided not to extend the dividend recommendation beyond September 2021.
MUNICIPALITY FINANCE PLC
More information :
President and CEO
Phone. +358 50 337 7953
MuniFin (Municipality Finance Plc) is one of the largest credit institutions in Finland: the Group’s balance sheet amounts to nearly 46 billion euros. The company is owned by Finnish municipalities, the public sector pension fund Keva and the Republic of Finland.
MuniFin is building a better and more sustainable future with its customers. MuniFin’s clients are Finnish municipalities, municipal federations, entities controlled by municipalities and non-profit housing organizations. The loans are used for environmentally and socially responsible investment purposes such as public transport, sustainable buildings, hospitals and health centers, schools and daycares, and homes for people with special needs.
MuniFin’s clients are national but the company operates in a fully global business environment. It is a Finnish bond issuer active in international capital markets and Finland’s leading green and social bond issuer. Funding is exclusively guaranteed by the City Council guarantee.
The Municipality Finance Group also includes the subsidiary Financial Advisory Services Inspira Ltd.
Find out more: www.munifin.fi