The Bucharest Stock Exchange (BVB) will pay 7.06 million lei (rd EUR 1.56 M) in dividends, as the Shareholders Ordinary General Meeting approving a gross dividend of 0.92 lei per share, the institution announced on its website.
“By a majority of votes, the Meeting approves the allocation of the company’s 2016 net statutory profit of 7.5 million lei as follows: 438,102 lei for the legal reserve and the distribution of 7.06 million lei as dividends,” the document reads.
On February 14, 2017 the Bucharest Stock Exchange announced in a release having made a net profit of 7.87 million lei in 2016, up by 19 pct compared to the previous year.
According to BVB, the Group’s consolidated net profit was by 49 pct higher in Q4 2016 compared to the 3.58 million lei reported in the similar period of the year before, mainly due to growth in the trading segment’s operating results.
The increase by almost 4 percent of the consolidated operating revenues since the beginning of 2016 and the decrease by over 6 percent of the consolidated operating expenses generated a combined advance of 89 percent of the operating profit up to 6.07 million lei (2015 all-year figure at 3.22 million lei) and an improvement by 8 percentage points of the operating margin. The Group’s trading segment generated in 2016 an operating profit of 5.41 million lei, making a major contribution to the Group’s operating result, the report mentioned.
The 2016 consolidated net financial revenue of 3.09 million lei (4.74 million lei in 2015) was mainly the result of revenues from Group investments in government securities and deposits worth 2.99 million lei (2015 all-year amount 3.32 million lei) and of the lower liquidity at the company’s disposal after the payment of dividends for 2015 and the drop in security yields and deposit rates.