Yield of Rietumu Bank Preference Shares Exceeded 17%
31-Mar-2016 / Financial Results In accordance with the decision of the Rietumu Bank shareholders general meeting held yesterday in Riga, dividends will be paid on preference shares of the bank.
According to the long-term policy of Rietumu Bank, dividends to the holders of preference shares will be paid at 50% of the bank's net profit that reached 72.2 million EUR in 2015.
Thus, the yield of the preference shares of the initial emission reached 17.4% for the previous year, which includes 8.7% of dividend yield.
“Preference shares in Rietumu Bank continue to provide high return on investment for two years already. Such reliable and at the same time profitable financial instruments, under the current circumstances of low interest rates, are in especially high demand. We are glad to be able to provide our clients with great possibilities for investment, and will continue our work in this direction,” says Alexander Pankov, President of Rietumu Bank.
The programme of issuing preference shares in Rietumu Bank was initiated in March 2014. As of now, there have been five emissions, during which clients and partners of the bank acquired more than 19 million of such shares.
In 2015 Rietumu Bank reached its new profit record, and is now a leading private bank in Latvia in this regard. The bank’s assets amount to 3.8 billion EUR, the amount of clients’ deposits – 3.2 billion EUR, and share capital and reserves are estimated at 433 million EUR.
The Annual Report for 2015, as well as the Auditor’s Report — by KPMG Baltics — were also approved during yesterday's shareholders meeting.
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