The board of directors of OTP Bank will propose payment of HUF 72 per share at the company’s AGM, but the actual dividend per share will be larger because of the dividend due on treasury shares, the AGM invites published on the Budapest Stock Exchange website on Thursday reveal.
The bank paid no dividends in the past three years. OTP Bank shareholders last received dividend, of HUF 145 per share, in 2007.
The bank had unconsolidated after-tax profit of HUF 108.96 billion in 2010 according to Hungarian Accounting Standards, of which the HUF 20.16 billion will be paid as dividends under the board proposal.
Consolidated IFRS net income was HUF 118.13 billion in 2010 compared to HUF 150.23 billion in the previous year.
BUX opens down 0.11% The Budapest Stock Exchange’s blue-chip BUX index opened Thursday trade down 0.11% at 24,310.13.
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