An ‘important milestone’ for Bank of Cyprus

The Bank of Cyprus is proceeding with a dividend payment after 12 years, after receiving the green light from the European Central Bank. 

According to an announcement, the BoC Holdings board of directors will propose the payment of a final dividend of 0.05 euros per share from the profits of 2022 to shareholders at the annual general meeting, to be held on May 26. 

The proposed dividend amounts in total to €22.3 million and is equivalent to a percentage (pay-out ratio) of 14% of the adjusted profitability before non-recurring items for 2022, or to a percentage of 31% of profitability after tax. 

The dividend will be paid in cash on June 16, 2023, while the cut-off date is May 4, 2023. 

The chairman of the Bank of Cyprus group, Takis Arapoglou, spoke of an “important milestone.”