Romania’s leading financial group Banca Transilvania (BVB: TLV) announced that its shareholders endorsed the disbursement of RON 1 billion (EUR 200 million) as dividends, out of last year’s RON 2.5 billion net profit, at a gross yield of 4.4% based on the most recent trading price.

The shareholders also approved a capital increase by the issue of 118 million new shares. 

The company currently has 799 million shares at face value of RON 10 per share, trading at RON 28.4 each, resulting in a market capitalization of RON 22.7 billion (EUR 4.5 billion). The new shares would thus account for 12.8% of the number of shares after the capital increase.

TLV shares rose by 17% ytd and 64% y/y compared to 10% ytd and 36% y/y advance of the blue chips index BET.

iulian@romania-insider.com

(Photo source: the company)