Scholarship. Banca Transilvania, the largest bank in Romania, has the approval of the shareholders…

Banca Transilvania (stock symbol TLV), the largest bank on the local market in terms of assets, announced that, following the extraordinary general meeting of shareholders on April 25, it was decided to allocate dividends of 1 billion lei from the profit on 2023, according to BVB.

With a gross dividend of around 1.25 lei per unit and a trading price of 28.4 lei for a TLV share, investors can register a yield of 4.4%.

In addition, the shareholders decided to “increase the share capital by the amount of 1,182,216,130 lei by issuing 118,221,613 new shares with a nominal value of 10 lei/share, as well as setting a price of 0 (zero) lei to compensate the fractions of actions resulting from the application of the algorithm and the rounding of the results, according to the legal provisions in force, as well as the granting of a mandate to the Board of Directors in order to establish a higher price than the approved one (if applicable)”.

Also, the bank will buy back up to 6.5 million shares (0.81% of the capital), with a nominal value of 10 lei/share at a minimum price equal to the BVB market price from the time of the purchase and a maximum price of 38 lei, within a stock option plan program in order to implement a remuneration system and run a staff loyalty program for a period of at least four years, as well as the payment of remunerations, write the representatives of the financial group.

Banca Transilvania has a market value of 22.7 billion lei, after the shares appreciated by 17% this year and by 64.4% in the last 12 months. Last year, the assets of the bank from Cluj-Napoca reached 170 billion lei, and the profit reached 3 billion at the group level.