Bank of Valletta plc - Full-Year Results

On 29 October, Bank of Valletta plc published its full-year results for the financial year ended 30 September 2010. The results show a pre-tax profit of €98.9 million, representing a 20.9% increase over the Group’s profitability in the previous financial year. The increase in profitability was due to improved interest and non-interest income which offset the rise in the Group’s overall cost base and the €12.9 million in impairment charges.

The Directors recommended a final dividend of €0.16 per share (net: €0.104) raising the 2010 full-year’s dividend to €0.235 per share which gives a 7% gross dividend yield on the current share price of €3.35. The 2010 full-year dividend increased by 17.5% over last year’s distribution. Shareholders as at close of trading on Friday 5 November 2010 will be entitled to the final gross dividend of €0.16 per share which will be paid on Friday 17 December following approval during the upcoming Annual General Meeting to be held on Thursday 16 December 2010.

Moreover shareholders as at close of trading on Friday 7 January 2011 will also be entitled to a 1 for 5 bonus issue which will be funded through the capitalisation of reserves amounting to €40 million.

Download a copy of the September 2010 Bank of Valletta plc Preliminary Results.

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