Bank of Valletta plc – Approval of Preliminary Statements of Annual Results

Bank of Valletta plc – Approval of Preliminary Statements of Annual Results
Bank of Valletta plc announced that the Board of Directors has approved the audited financial statements for the financial year ended 30 September 2012. The Board resolved that these audited financial statements will be submitted for the approval of the shareholders at the forthcoming Annual General Meeting which is scheduled on 19 December 2012.
The Group registered a profit before tax of EUR 110.73m, compared to EUR 64.373m registered in 2011. Net interest income for the period under review amounted to EUR 147.832m a rise of 7.66% from 2011. EPS increased to EUR 0.278.
The Board of Directors further resolved to recommend for the approval of the Annual General Meeting:

The payment of a final gross dividend of EUR 0.13 per share making for a final net dividend of EUR 0.0845 per share which, if approved by the Annual General Meeting, would make for a total gross dividend for the year of EUR 0.19 per share (total net dividend per share EUR 0.1235).
A bonus share issue of one (1) share for every nine (9) shares held which will be allotted to shareholders on the Bank’s share register as at close of business on Thursday, 17 January 20131. The bonus issue will be funded by a capitalisation of reserves amounting to EUR 30 million.
To view the official company announcement, click here.