Banca Transilvania announces EUR 200 mln dividend and capital increase
<p>Romania’s leading financial group Banca Transilvania (BVB: TLV) announced that its shareholders endorsed the disbursement of RON 1 billion (EUR 200 million) as dividends, out of last year’s RON 2.5 billion net profit, at a gross yield of 4.4% based on the most recent trading price.</p>

<p>The shareholders also approved a capital increase by the issue of 118 million new shares.&nbsp;</p>

<p>The company currently has 799 million shares at face value of RON 10 per share, trading at RON 28.4 each, resulting in a market capitalization of RON 22.7 billion (EUR 4.5 billion). The new shares would thus account for 12.8% of the number of shares after the capital increase.</p>

<p>TLV shares rose by 17% ytd and 64% y/y compared to 10% ytd and 36% y/y advance of the blue chips index BET.</p>

<p><em>iulian@romania-insider.com</em></p>

<p><em>(Photo source: the company)</em></p>