BRUSSELS, May 28 (Reuters) - Franco-Belgian financial group Dexia will not pay a dividend for 2011, after taking a 3.6 billion euros hit on asset sales in the second quarter, chairman Jean-Luc Dehaene told Belgian daily L'Echo.
The group would be loss-making in 2011, which meant no dividend to be paid in 2012 for 2011, Dehaene said in an interview published on Saturday.
'But in 2012 the outlook is much better, with a sustainable result, which I hope will allow also for normal dividends,' Dehaene said.
Dexia on Friday announced that it would clear out its low-grade U.S. assets and speed up bond sales, taking a 3.6 billion euros loss in the second quarter.
(Reporting by Robert-Jan Bartunek; Editing by John Stonestreet) Keywords: DEXIA DIVIDEND/ (robertjan.bartunek@thomsonreuters.com; +32 2 287 6850; RM: robert-jan.bartunek.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The group would be loss-making in 2011, which meant no dividend to be paid in 2012 for 2011, Dehaene said in an interview published on Saturday.
'But in 2012 the outlook is much better, with a sustainable result, which I hope will allow also for normal dividends,' Dehaene said.
Dexia on Friday announced that it would clear out its low-grade U.S. assets and speed up bond sales, taking a 3.6 billion euros loss in the second quarter.
(Reporting by Robert-Jan Bartunek; Editing by John Stonestreet) Keywords: DEXIA DIVIDEND/ (robertjan.bartunek@thomsonreuters.com; +32 2 287 6850; RM: robert-jan.bartunek.thomsonreuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2011. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
