Published October 28, 2015 4:02pm EDT | Updated October 28, 2015 7:06pm EDT

Deutsche Bank To Scrap Dividend Until 2017

Deutsche Bank AG said Wednesday it was eliminating its dividend for this year and the next as part of a strategic plan. To reach various financial targets, Deutsche Bank said it's eliminating its dividend for fiscal 2015 and 2016. The German banking giant said it expects to start the dividend back up in fiscal 2017. Shares closed up 0.4% to $30.31.