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Wednesday, July 24, 2024

Eurobank received approval for a dividend

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This is a significant milestone as it marks the first dividend distribution in 16 years

Πorρκρια μerρσ&alpha ; η Eurobank

Eurobank received approval from the European Central Bank to pay a cash dividend of 342 million euros or 0.0933 euros per share. This amount corresponds to a distribution rate of 30% on the net profits of the year 2023.

This event is an important milestone, as it marks the first dividend distribution after 16 years, underscoring Eurobank's strength and well-diversified operating model, which focuses on creating value for its shareholders, the bank's statement said.< /p>

The approval follows an application submitted by Eurobank, in the context of strong financial performance and the successful completion of strategic initiatives. The CET 1 Capital Ratio, adjusted for the proposed dividend, stands at 16.4% as at 31 March 2024, significantly above regulatory requirements.

The final distribution of dividend is subject to (a) the proposal of the Board of Directors to the General Meeting of Shareholders and (b) the approval of the General Meeting of Shareholders. The General Meeting of Shareholders will take place on 23.7.2024.

As MR has written, SSM gives the green light for the distribution of dividends by Greek banks for the first time after 16 years, with the total amount which will be allocated based on the request they have submitted, which is estimated to reach around 870 million euros.

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Source: www.kathimerini.com.cy

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