Banca Transilvania pays EUR 268 mln dividends after record profit in 2015

btRomania’s second largest lender Banca Transilvania has decided to pay special cash dividends worth RON 1.2 billion (EUR 268 million) to its shareholders, after posting a record net profit in 2015 following Volksbank Romania’s takeover.

The gross dividend per share is RON 0.39 and represents 15.6% of the current share price (RON 2.46, as of March 16). The Banca Transilvania share (BVB ticker: TLV) price went up by 7.6% in the opening of the trading session on Thursday, March 17, after the dividend announcement. The bank’s shares had already gained more than 30% in the last 12 months, according to Romania-Insider.com.

It is for the second time in the bank’s 20-year history when it pays cash dividends. The decision is based both on Banca Transilvania’s positive results in 2015, as well as on its capital surplus, according to the bank’s representatives.

“In agreement with the remarkable results of 2015, due to the consolidation of Banca Transilvania’s business, we propose granting dividends to all of our almost 28,000 shareholders, alongside our gratitude for their trust,” said Horia Ciorcila, founder and chairman of the board of Banca Transilvania.

The bank will also increase its capital by RON 620 million (EUR 138.5 million) by issuing new shares that will be distributed to its shareholders.

Banca Transilvania posted a net profit of EUR 544 million in 2015, most of which came from Volksbank Romania’s takeover. Banca Transilvania and Volksbank Romania merged at the end of last year.

 

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