OTP Bank approves HUF 429-per-share dividend

Banking

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Shareholders of OTP Bank, Hungary's biggest commercial lender, approved the board's proposal to pay a HUF 429.46-per-share dividend on 2019-2021 earnings at an annual general meeting yesterday, according to the AGM resolutions posted on the website of the Budapest Stock Exchange.

The dividend comprises a HUF 425.89-per-share dividend on 2019 and 2020 earnings and a HUF 3.57-per-share dividend on 2021 earnings.

The dividend funds come to HUF 119.2 billion for the 2019-2020 earnings and HUF 1 bln for last year's earnings.

OTP's management had earlier set aside HUF 119 bln for payment of a dividend on the 2019 and 2020 business years, while a suspension on payment of dividends by lenders was in place because of the coronavirus crisis.

That suspension was recently lifted by the National Bank of Hungary (MNB). Last year, OTP had a net profit of HUF 125.3 bln.

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