BSP to pay 25 toea dividend to shareholders

Bank South Pacific (BSP) will be paying an interim dividend of 25 toea per ordinary share, October 21, 2016.

Chairman, Sir Kostas Constantinou when announcing the payment today said the Board of Bank South Pacific had approved the Interim 2016 Financial Statements for the six months ended 30 June 2016 where an interim group profit after tax of K301.4 million was announced which was an increase of 12.9% on the corresponding period in 2015.

The interim dividend of 25 toea per share represents:

  • A gross interim dividend amount of about K117 million ( 2015 K105 million);
  • An interim payout ratio of 39%, (Interim 2015: 39%);
  • An annualised yield on a current K8.40 share price of 11.3%, which is a similar to prior year levels; and
  • An increase of 11.11% on the 2015 Interim Dividend.

He added that the timing of the dividend is: ex dividend 5th October 2016, a record date October 7, 2016, with payment on October 21, 2016.

Sir Kostas said that the payment of the interim dividend recognised the bank’s commitment to its shareholders and that it reflects BSP's desire to ensure that all shareholders benefit from BSP's profitable operating performance.

Author: 
Freddy mou