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OTP board proposes dividend payment of 100% of face value of shares

In Hungary

The board of directors of OTP Bank will propose dividend payment of 100% of the face value of shares at the bank's AGM scheduled for April 27, the bank said on Thursday.

Dividend payment is proposed to begin on June 11.

OTP shares have face value of HUF 100, but the amount of dividends will also depend on the number of treasury shares as the dividends on treasury shares will be paid to eligible shareholders.

The bank paid a dividend of HUF 72-per-share last year.

OTP Bank will spend HUF 28 billion on dividend payment from its 2011 unconsolidated HAS after-tax profit of HUF 136.6 billion.

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