articles | 07 June 2024

Eurobank receives ECB approval for €342 million cash dividend

Eurobank has received approval from the European Central Bank (ECB) to distribute a cash dividend of €342 million, equivalent to €0.0933 per share, according to an official announcement released this week.

The announcement noted that this amount represents a 30 per cent payout of the bank’s net profits for 2023. “This milestone marks the first dividend distribution in 16 years, underscoring the robustness and well-diversified operational model of Eurobank, which focuses on creating value for its shareholders,” the bank stated. Moreover, the approval follows a formal request submitted by Eurobank, reflecting its strong financial performance and the successful completion of strategic initiatives.

The bank highlighted that its Common Equity Tier 1 (CET1) Capital Ratio, adjusted for the proposed dividend, stood at 16.4 per cent as of 31 March 2024, significantly exceeding regulatory requirements.

Finally, Eurobank noted that the final dividend distribution is subject to a proposal from the Board of Directors and approval at the General Meeting of Shareholders, scheduled for July 23, 2024.

Source: Cyprus Mail

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