Bank of Valletta plc - Full-Year Results

At a meeting held on Friday 31 October 2008, the Board of Directors of Bank of Valletta plc approved the September 2008 full-year results and recommended a final gross dividend of €0.0675 per share (net dividend per share of €0.0439) to all shareholders on the register of members as at close of trading on Wednesday 5 November. The shares trade ex-dividend as from Thursday 6 November while the dividend will be paid on 18 December 2008.

The Board is also recommending an increase in the nominal and paid up value of the ordinary shares (from €0.75 to €1.00 per share) as well as a bonus issue of 1 share for every 5 shares held. Shareholders as at close of trading on Monday 12 January 2009 will be entitled to this bonus share issue.

During the year to 30 September 2008, the BOV Group generated a pre-tax profit of €40.6 million, 60% lower than last year. The largest single item which impacted the performance was the unrealised fair value markdowns totalling €41 million, of which €14 million arose in the last two weeks of the financial year.

A review of the Full-Year Results is available here.

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