Bank South Pacific has announced an interim dividend payment of 32 toea per ordinary share for 2017 following the publication of its half year results last week.
In a statement, BSP Group Chairman Sir Kostas Constantinou announced the dividend payment will be payable on the 20th of October.
The interim dividend of 32 toea per share BSP represents:
- A gross interim dividend amount of K149.5 million, an increase from 2016 which was K117 million;
- An interim payout ratio of 40 percent; and
- An annualised yield on current K9.55 share price of K12.04 percent, which is up on prior year levels.
Constantinou said the payment of the interim dividend recognised the bank’s commitment to its shareholders and it reflects BSP’s desire to ensure that all shareholders benefit from BSP’s profitable operating performance.
He remains confident the Group will continue to adapt to challenging market conditions and continue to deliver a sound underlying performance for the remainder of 2017 and beyond.
The BSP Group recorded a consolidated operating profit after tax of K370.9 million for the 2017 half year, an increase of 23 percent from the same period in 2016.
Total assets also increased to K21.733 billion due to an increase in its loan book across all countries.
Group revenues increased by 17.9 percent for the same period, a result from interest income streams, in particular from loans and advances with the bank growing its loan book by 6.4 percent.