Romanian lender Banca Transilvania distributes over half of its profit as dividends

Banca Transilvania, the second biggest lender in Romania, will pay dividends worth RON 610 million (EUR 131 million) to its shareholders, representing more than half of last year’s net profit (RON 1.18 billion). The gross dividend per share is RON 1.405, which leads to a yield of 5.2%, considering the current share price, of RON 2.66. Banca Transilvania also plans to use RON 471 million (EUR 101 million) of last year’s profit to increase its share capital. The bank’s shareholders will vote on these matters in the General Shareholders’ Meeting (GSM) to take place on April 25/26. The shareholders will also elect a new board of directors for the 2018-2022 period and give their preliminary approval on Banca Transilvania’s merger with Bancpost. Banca Transilvania is listed on the Bucharest Stock Exchange and has a market capitalization of EUR 2.48 billion. Romanian lender Banca Transilvania gets greenlight for Bancpost takeover editor@romania-insider.com