At the share price before the announcement, this would imply a DY of 4.5%. The ex-date is set for 11 June 2024, while the payment date is set for 26 June 2024. Furthermore, Banca Transilvania proposed to the EGSM the increase in the share capital by RON 1.18bn, by issuing 118.2m new shares, from the 2023 net profit.

Yesterday, Banca Transilvania published its OGSM & EGSM call, which included the proposal for the distribution of profit, as well as a proposal for the share capital increase. Starting off with the dividend, Banca Transilvania proposed RON 1.252 DPS, which would imply a DY of 4.5% at the share price before the announcement. The ex-date is set for 11 June 2024, while the payment date is set for 26 June 2024.

Banca Transilvania dividends per share (RON) and dividend yields (%) (2019 – 2024)

Source: Banca Transilvania, InterCapital Research

Regarding the share capital increase, a proposal was made to the EGSM to increase the share capital by RON 1.18bn, by issuing 118.2m new shares with a nominal value of RON 10/share. The increase in the share capital will be carried out through the capitalization of reserves from the 2023 net profit, in the said amount. If approved, the registration date for this change is set for 19 July 2024.

Finally, Banca Transilvania also proposed the approval of the share buyback program, with up to 6.5m shares. The ex-date is set for 18 July 2024 for the share buyback, while the payment date is set for 22 July 2024.