BOV down 1.2% as equity turns ex-dividend

During this morning’s session on the Borza, the MSE Share Index slid 0.3% back to 3,304.660 points as the two large banks traded lower. The share price of Bank of Valletta plc dropped 1.2% to the €2.805 level as the equity turned ex-dividend. Almost 10,500 BOV shares changed hands today with bids already placed higher at the €2.81 level. The Bank is due to pay the recently declared interim gross dividend of €0.0625 on Thursday 26 May.

The share price of HSBC Bank Malta plc also ended the day in negative territory as it eased 0.3% back to the €2.94 level across nine trades totalling 10,700 shares. HSBC is shortly expected to publish its Interim Directors Statement to update the investing public on its performance since the beginning of 2011.

Meanwhile, further demand for Middlesea Insurance plc shares lifted the equity a further 1.3% higher to just over the €1.00 level for the first time since 10 March 2011. Investors eagerly await news from the regulator regarding Mapfre Internacional’s acquisition of Munich Re’s 19.9% shareholding. If approved, Mapfre would have to launch a mandatory bid for the remaining shares.

Malta International Airport plc share price advances by 1.8% to the €1.68 level across three trades totalling 8,900 shares. The airport operator is scheduled to pay its final dividend on 17 May, following its approval during last week’s Annual General Meeting.

A further 10,000 RS2 Software plc shares traded at the €0.50 level on the last day for investors to gain entitlement to the net dividend of €0.032 per share. Equity turns ex-dividend as from tomorrow. The only other active equity, GO plc, also closed unchanged at its all-time low of €1.29 on volumes of 5,400 shares.

Subscriptions for the new Malta Government Stocks will be accepted until tomorrow afternoon. The Treasury is issuing two fixed rate stocks, namely the 4.25% MGS 2017 (III) and the 5.25% MGS 2030 (I). Both stocks are priced at 100.75%. Further details and copies of the Prospectus and application forms available at