End of August 2019, the Board of Directors of Almancora Société de gestion, statutory director of KBC Ancora, has decided to make a limited adjustment to the dividend policy. This adjustment means that, with effect from the current financial year, 90% of the distributable recurring result for the financial year (i.e. after adjustment for any exceptional results and after the compulsory formation of the legal reserve) will be paid out as (interim) dividend. Compared to the previous dividend policy, this means a reduction of 10%.
As KBC Ancora is holding more cash within the business as a result, this will enable the outstanding financial liabilities to be reduced more quickly. That makes KBC Ancora’s balance sheet more resilient against shocks and will in principle lead to an accelerated reduction in the interest charges payable.