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

October 31, 2013
|In Company Announcements
|By Jesmond Mizzi Financial Advisors

Bank of Valletta p.l.c. (the Bank) announced that the Board of Directors approved the audited financial statements for the financial year ended 30 September 2013. 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 Thursday, 19 December 2013. A preliminary statement of annual results is being attached herewith in terms of the Listing Rules. 

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 €0.13 per share making for a final net dividend of €0.0845 per share which, if approved by the Annual General Meeting, would make for a total gross dividend for the year of €0.19 per share (total net dividend per share €0.1235). 

 

2. A bonus share issue of one (1) share for every ten (10) shares held which will be allotted to shareholders on the Bank’s share register as at close of business on Friday, 17 January 2014. The bonus issue will be funded by a capitalisation of reserves amounting to €30 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 Tuesday, 19 November 2013, will receive notice of the Annual General Meeting together with the Financial Statements for the financial year ended 30 September 2013. 

 

The final dividend, if approved at the Annual General Meeting, will be paid on the 20 December 2013 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 Tuesday, 19 November 2013.

The Group registered a profit before tax of EUR 115.78m, compared toEUR 110.73m registered in 2012. Net interest income for the period under review amounted to EUR 131.01m , a decline of 11.38 % from 2012. EPS increased to EUR 0.264

To view the official company announcement and the Group's audited financial statements, click here.