The shares of Romanian lender BRD-Groupe Societe Generale (BVB ticker: BRD) jumped by 8% on Friday, January 14, after the bank announced it will pay special dividends worth RON 1.68 bln (EUR 340 mln).

The resulting gross dividend per share is RON 2.4164 and represents 12% of the current share price of RON 20.

The dividends will be paid on April 4, 2022, to all the shareholders registered on March 14.

The special dividends come from the retained profits that the bank recorded in 2019 and 2020. BRD paid no dividends from its 2019 net profit and very small dividends from the 2020 result, due to precautionary recommendations from the central bank during the COVID-19 pandemic.

BRD’s biggest shareholder, French group Societe Generale, will cash in special dividends worth some EUR 205 mln for its 60% stake in the bank.

editor@romania-insider.com

(Photo source: Photo 18985940 © Viorel Dudau | Dreamstime.com)