BCR disburses 103m-euro dividend

BCR, the biggest bank in the Romanian banking system, will pay 360 million RON (103 million euros) to its shareholders in form of dividends this year, which is half of the profit posted last year. The decision was taken in the General Meeting of Shareholders held at the end of last week. The bank is to pay a gross dividend worth 0.4542 RON for a share with a par value of one RON. The net profit made by the bank last year stood at 202 million euros. Employees who paid 1.035 RON for a share thus recover almost 45% of the invested amount, retaining their share ownership. However, the dividend accounts for 1.7% of the price paid by the Austrians at Erste for a share. The bulk of the dividends – some 64 million euros, would go to the state. Legally, the state still owns a 62% stake in the bank. ZF