BUCHAREST (Romania), March 17 (SeeNews) – Romania’s Banca Transilvania proposed on Thursday to distribute 1.2 billion lei ($297 million/268 million euro) in cash dividend for last year and issue free shares worth 620 million lei.
The bank has been skipping dividend since 2009, when it paid out a total of 50 million lei to shareholders.
Banca Transilvania plans to pay out a gross dividend of 0.39 lei per share out of the company's record-high net profit of 2.4 billion lei for 2015, it said in a statement.
The bank's shareholders will vote on the proposal on April 27 and 28.
Following the dividend announcement, the bank’s shares were trading 6.43% higher at 2.65 lei by 1133 CET.
(1 euro = 4.4775 Romanian lei)
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