Published: May 7, 2024, 21:54 Daniel Paćkowski
Bank Handlowy is proverbially breaking the dividend bank. It wants to allocate PLN 1.45 billion for this year’s payment, which is nearly 1/4 more than a year earlier and more than twice as much as in 2022.
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Management Bank Handlowy will recommend at the general meeting to allocate 64.3% for dividend. net profit for 2023, i.e. PLN 1.45 billion. At the current exchange rate (PLN 112) the proposed rate of PLN 11.10 per share gives an interest rate of 9.9%. The bank’s management board proposed the date of determining the right to dividend as June 27, and the date for its payment as July 4.
– The above proposal to pay a dividend, constituting 64.31%. net profit for 2023, is consistent with the individual recommendation of the Polish Financial Supervision Authority regarding the bank’s fulfillment of the requirements qualifying for the payment of 75%. dividends from net profit earned in 2023, as the bank reported in current report No. 6/2024 of February 23, 2024. (…) According to current reports No. 17/2023 and 20/2023, part of the net profit for 2023 in the amount of PLN 800 PLN million was included in Common Equity Tier 1 capital – we read in the announcement.
Handlowy breaks its dividend record
Handlowy is famous for its regular and generous dividends. In 2023, the bank paid a record PLN 1.18 billion to shareholders. The rate of PLN 9 per share gave a rate of 9.91 percent, which was the highest rate among banks listed on the WSE.
A fragment of the dividend calendar of Bank Handlowy. Source: StockWatch.pl
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Citi Handlowy was created from the merger of Bank Handlowy in Warsaw – the oldest commercial bank in Poland and Citibank (Poland). In addition to classic banking services, the capital group’s offer includes capital market services and products offered by a brokerage house and leasing products. The bank has been listed on the main market of the Warsaw Stock Exchange since 1997.
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