OTP shareholders tap profit reserves to pay HUF 145-per-share dividend

Telco

Shareholders of OTP Bank approved at an annual general meeting today a proposal to pay a HUF 145-per-share dividend from profit reserves which amount to HUF 40.6 bln, according to Hungarian news agency MTI.

After deducting treasury shares, per-share-dividend is expected to come to HUF 147. The dividend fund reached HUF 40.6 bln. The bank had a HUF 41.7 bln loss last year, according to Hungarian Accounting Standards.

Chairman-CEO Sándor Csányi said OTP would keep its promise to pay shareholders a dividend after the lender published fourth-quarter earnings in March. Last year, the bank paid a HUF 145-per-share dividend on 2013 earnings.

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