At the share price before the announcement, this would amount to a DY of 5.5%. The ex-date is set for 20 October 2023.

On Friday, Banca Transilvania held its OGSM and EGSM meetings. During the OGSM meeting, the distribution of profit was approved, in the amount of RON 897.5m from the 2022 net profit (41% payout ratio), and EUR 4.9m from the retained earnings. As such, the total amount to be distributed amounted to RON 902.4m. This would imply a gross dividend per share of RON 1.13. At the share price before the announcement, the dividend yield amounted to 5.5%. The ex-date is set for 20 October 2023, while the payment date is set for 6 November 2023.

On the other hand, during the EGSM meeting, the approval of the program of corporate bond issues was also made. These will be denominated in euro and/or RON, or in another currency (depending on the market conditions in terms of the interest rate), with a maturity of no more than 10 years. The frequency of the coupon would be annual or semi-annual, with the maximum amount to be issued set at EUR 1.5bn (or other currency equivalent), through several separate issues, carried out over a maximum period of 5 years.

The entire report can be accessed here.

Banca Transilvania historical dividends per share (RON) and dividend yields (%) (2019 – 2023)

Source: Banca Transilvania, InterCapital Research