(Alliance News) - Bank of Cyprus Holdings PLC on Thursday said the European Central Bank allowed it to pay dividends, prompting it to propose a payout.
The Nicosia-based lender proposed a final dividend of EUR0.05 per share for 2022, subject to shareholder approval at the annual general meeting on May 26. The last time it paid a dividend was in June 2011.
The bank took heart from its 2022 results, which it published in February, which showed a pretax profit of EUR109.8 million, surged from EUR36.1 million. Adjusted pretax profit had risen to EUR188 million from EUR91 million.
Bank of Cyprus shares rose 3.6% to 228.00 pence each on Thursday afternoon in London.
By Tom Budszus, Alliance News reporter
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Bk. Cyprus Hldg (BOCH)