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OTP Bank board proposes payment of HUF 120-per-share dividend

The board of OTP Bank, Hungary's biggest commercial lender, will propose to shareholders payment of a HUF 120-per-share dividend on 2012 profit, the agenda for the bank's annual general meeting published late Wednesday shows. The dividend comes to HUF 33.6 billion, according to the bank's profit-and-loss statement prepared with Hungarian Accounting Standards. The statement shows after-tax profit of HUF 52.6 billion. Deputy-CEO László Bencsik said a month earlier, after the bank published its Q4 earnings, that the board was expected to propose payment of a HUF 120-121 dividend per share on 2012 profit. OTP Bank shareholders earlier approved payment of a HUF 100-per-share dividend on 2011 profit.