Bank of Valletta plc – Approval of Preliminary Statements of Annual Results

Bank of Valletta plc – Approval of Preliminary Statements of Annual Results

Bank of Valletta plc announced that the Board of Directors approved the audited financial statements for the financial year ended September 30, 2011. The Board resolved that these audited financial statements be submitted for the approval of the shareholders at the forthcoming Annual General Meeting which is scheduled for Friday, December 16, 2011.

The Group registered a Profit before tax of EUR 60.32 million, a decline of 39.3 per cent. However, Net Interest Income rose to EUR 137.3 million, compared to EUR 126.7 million in the previous period. Earnings per share declined to EUR 0.174 (2010: EUR 0.264).

The Board of Directors further resolved to recommend for the approval of the Annual General Meeting:

1. The payment of a final gross dividend of EUR 0.08 per share making for a final net dividend of EUR 0.052 per share which, if approved by the Annual General Meeting, would make for a total gross dividend for the year of EUR 0.1425 per share (total net dividend per share EUR 0.092625).

2. A bonus share issue of one (1) share for every eight (8) shares held which will be allotted to shareholders on the Bank’s share register as at close of business on January 12, 2012. The bonus issue will be funded by a capitalisation of reserves amounting to EUR30 million.

Application will be made for the necessary authorisations concerning the listing of the bonus share issue on the Malta Stock Exchange. Shareholders on the Bank’s share register at the Central Securities Depository of the Malta Stock Exchange, as at the close of business on Wednesday 16 November 2011, will receive notice of the Annual General Meeting together with the Financial Statements for the financial year ended 30 September 2011.

The final dividend, if approved at the Annual General Meeting, will be paid on the 17 December 2011 to the shareholders on the Bank’s share register at the Central Securities Depository of the Malta Stock Exchange as at the close of business on Wednesday 16 November 2011.

To view the Annual Financial Statements, Click Here.