BOV doubles net interim dividend to €0.06 per share

The MSE Equity Price Index increased by 0.07% to 3,799.229 points as the gains in BOV outweighed the declines in APS, AX Real Estate, and M&Z. Meanwhile four other equities closed unchanged as today’s trading activity in local equities amounted to €0.25 million. Download today’s Equity Market Summary.

Bank of Valletta plc was the most actively traded equity for the fourth successive session as it gained 1.2% to reach a fresh six-year high of €1.75 across twenty-four deals having a market value of €0.18 million. Yesterday evening, BOV announced that the company’s Board of Directors resolved to distribute a net interim dividend of €0.06 per share, which is twice as much as the interim dividend declared in October last year. Shareholders of BOV as of the close of trading on Friday 8 November 2024 will be entitled to receive the dividend payable on Wednesday 27 November 2024.

On the other hand, AX Real Estate plc decreased by 1.0% to the €0.406 level over three deals amounting to 24,000 shares.

APS Bank plc (-3.5%) and M&Z plc (-1.7%) both fell to the €0.55 and €0.58 levels respectively over trivial volumes.

Meanwhile, GO plc held the €2.70 level on a single trade of 20,000 shares.

A single trade of 2,227 shares left the share price of The Convenience Shop (Holding) plc unchanged at the €1.00 level.

Malta International Airport plc and International Hotel Investments plc both closed unchanged at the €5.95 and €0.45 levels respectively on muted activity.

The RF MGS Index increased for the third consecutive session as it rose by a further 0.08% to a fresh two-week high of 916.645 points. Inflation in the euro area during September was at a three-year low of 1.7%, less than the 1.8% which was expected. Headline inflation fell below the ECB’s target of 2% for the first time since June 2021. The decline was driven by a slowdown in services inflation as well as a sharper drop in energy prices. Today, the ECB cut rates during a monetary policy meeting and the deposit rate facility was lowered by 25 basis points to 3.25% in line with forecasts. The ECB commented that inflation is on track to reach its inflation target, with the outlook further solidified by lower than anticipated economic activity data in the euro area. However, since core and service inflation remain relatively high, the ECB anticipates that headline inflation will rise above 2% once again by the end of 2024, after which it is anticipated to fall back down to the 2% target by the end of 2025.

 

This report contains only public information and is not to be construed as investment advice or an offer to buy or sell securities. Information contained herein is based on data obtained from sources considered to be reliable, but no representations or guarantees are made with regard to the accuracy of the data. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Rizzo, Farrugia & Co. (Stockbrokers) Limited is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap—370 of the Laws of Malta and a member of the Malta Stock Exchange.