Rothschild & Co. has implemented its business continuity plans for all of its activities amid the worsening coronavirus situation.
Since the announcement of their annual results on 10 March, the impact of the virus has resulted in further declines in financial markets and increased volatility.
The company benefits from from a strong balance sheet with a capital ratio of 19% and a high level of liquidity. They believe that there will be a strong improvement in performance once markets start to return to a more normal state.
On 27 March 2020, the European Central Bank (ECB) recommends that dividend payments and commitments by credit and similar institutions within the European Union be stopped until 1 October 2020. The managing partner has decided that no proposal for approving a dividend in respect of the financial year ending on 31 December 2019 will be made at the Annual General Meeting of shareholders on 14 May 2020.
The managing partner has intended to pay the previously announced dividend of €0.85 per share when appropriate.
Details of the Annual General Meeting will be announced later on.
Rothschild & Co. has a team of over 3,500 individuals in financial services spanning over 40 countries. Their services provide market intelligence and long-term solutions for clients in global advisory, wealth and asset management, and merchant banking.