Bank of Cyprus Holdings PLC - Nicosia-based lender with 64 branches across Cyprus - Launches EUR25 million share buyback programme, running from Friday until up to March 14 next year. The buyback was first announced by Bank of Cyprus back on March 20, when it said it had received approval from the European Central Bank to pay a cash dividend and conduct a share buyback. It will pay a dividend of EUR0.25 per share for 2023, up from EUR0.05 for 2022, on the back of higher earnings last year. Pretax profit for 2023 was EUR561.9 million, up from EUR90.7 million in 2022, as interest income doubled to EUR920.1 million from EUR428.8 million.
The buyback programme will be run by Numis Securities, part of Deutsche Bank AG, together with Cyprus Investment & Securities Corp Ltd.
Current stock price: 316.00 pence
12-month change: up 45%
By Tom Waite, Alliance News editor
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Bk. Cyprus Hldg (BOCH)