Carpatica's first dividend disbursement

Although undergoing a capital increase intended to raise cash from shareholders, Banca Comerciala (Commercial Bank) Carpatica plans to disburse dividends from last year’s profit this year. This is the first time the bank distributes dividends. The dividend value will be endorsed by a General Meeting of Shareholders scheduled for late April. “The bank management proposes a 1,600 ROL/share dividend,” president Nicolaie Hoanta said. The reference date entitling investors to dividends is April 9. The bank made 138bn ROL net profit last year, preliminary financials show, while the total revenues were worth 706bn ROL. The bank’s president says Carpatica’s shares may be traded on the Bucharest Stock Exchange right as of this month, as the bank has completed the necessary documentation for the listing process. Carpatica is now trading on RASDAQ with its shares having peaked at an all time high of 35,500 ROL on Thursday and Friday following news of the upcoming dividend disbursement. Carpatica’s shares have been among the top performers of this year’s capital market, providing a nearly 100% yield to their investors in Q1. ZF