FBD Insurance has decided to postpone its AGM and the payment of €35m in dividends to its shareholders due to the COVID-19 pandemic. FBD was scheduled to hold its AGM on 8 May, but said it has deferred the meeting until a later date, although it gave no indication when this would be.
FBD Insurance has decided to postpone its AGM and the payment of €35m in dividends to its shareholders due to the COVID-19 pandemic.
FBD was scheduled to hold its AGM on 8 May, but said it has deferred the meeting until a later date, although it gave no indication when this would be.
No surprise
The move is not a surprise given the current Government restrictions in place to try to halt the spread of COVID-19.
Many farmer shareholders in FBD were looking forward to a dividend payment of €1 per share, but this is now paused.
However, pausing the payout of €35m in dividends makes sense for FBD given the current economic situation across the world and liquidity challenges emerging in almost every sector of the economy.
Farmer Business Developments, the largest shareholder in FBD with a 25% stake, was due to receive more than €8.5m in dividends.
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