On 11 March, Lombard Bank Malta plc announced its 2009 full-year results showing an 8.6% drop in pre-tax profits to €12.9 million mainly due to lower net impairment gains than in the previous financial year. At Bank level, Lombard registered a 4.2% increase in profitability to €7.5 million as the Bank managed to maintain net interest income at the €14.3 million level and benefited from the €1.9 million dividend declared by its subsidiary, MaltaPost plc, in January 2009.
The Directors recommended a final gross dividend of €0.10 per share (unchanged over the previous year) for approval by shareholders at the forthcoming Annual General Meeting. The Board also recommended that shareholders will be given the option to take up their dividend either in cash or in shares at the attribution price of €3.04 per share. Shareholders as at close of trading on Tuesday 16 March 2010 will be entitled to this dividend which will be subsequently paid on 30 April 2010.
Download a copy of the 2009 Preliminary Results