Insurer and asset manager AXA has announced it will halve its dividend amid pressure from regulators on firms to rethink their shareholder distributions during the Covid-19 pandemic.
AXA said it would slash its payout, due on 9 July, to €0.73 per share, from €1.43, after the European Insurance and Occupational Pensions Authority (EIOPA) and the Autorité de Contrôle Prudentiel et de Résolution (ACPR) suggested firms adopted "a prudent approach towards dividend distributions". The Paris-based company added it may continue proposing a further dividend payment of €0.7 in Q4 2020 to make up for the cut, "subject to favourable market and regulatory conditions at that time". H1 2020 results round-up: Investors pull £325m from Premier Miton's multi-asset funds Chairman...
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