Profil:
Bank Handlowy w Warszawie SABank Handlowy wants to pay dividend of 10.29 per share from 2024 profit
The management board of listed lender Bank Handlowy, the Warsaw-listed unit of Citigroup, has recommended that PLN 1.34 billion (EUR 313.16 mln) from the profit generated in 2024 should be earmarked for dividends, which would translate into a dividend of PLN 10.29 (EUR 2.40) per share, the bank said in a market filing.
The bank said that the above dividend proposal, representing 74.93 percent of the net profit for 2024, is in line with the individual recommendation of Poland's financial market regulator KNF.
Bank Handlowy's management proposed a dividend record date of July 7, and a dividend payment date of July 14, 2025.
At the same time, the lender's management proposed to allocate the entire undistributed net profit from previous years to dividend capital, subject to its creation by the ordinary general meeting of shareholders.
Bank Handlowy's CEO had previously announced that the bank's management would be willing to allocate 75 percent of the 2024 profit to dividends.
In 2024, Bank Handlowy paid a dividend of PLN 11.15 (EUR 2.61) per share, or a total of PLN 1.45 billion (EUR 338.87 mln). This dividend represented 65 percent of the net take generated in 2023.
In December 2024, the bank adopted a new strategy for 2025-2027. Among other things, the lender assumed the continuation of dividend payments of at least 75 percent of net profit, subject to regulatory approval.
seb/ ao/