Preference Stocks of Rietumu Bank Have Brought a Yield of 18%
30-Apr-2015 / Products & Services On 28 April 2015, in accordance with the decision of the general meeting of shareholders, dividends on preference stocks of Rietumu Bank were paid for the second half of 2014.
In 2014 net audited profit of the Rietumu Group was EUR 74.1 million, including the bank’s profit of EUR 71.5 million. For holders of preference stocks, who acquired them during the first issue, it corresponds to a yield of 18% p.a.
In accordance with the long-term policy of Rietumu Bank, half of the net profit is paid as dividends to shareholders and the rest is directed in the form of investment for bank development. Thus, for holders of preference stocks, who acquired them during the first issue, the dividend yield for 2014 is 9%. Moreover, the value of stocks held by them has also grown.
“During this time preference stocks of Rietumu Bank gave a good account of themselves as a beneficial and reliable financial tool, which enjoys high demand on the market. The invariably high interest, which has been retained for them for all of this time, is evidence of trust in the bank and a high assessment of our work, for which we are grateful to our shareholders, clients and partners,” noted Alexander Pankov, the Rietumu Bank President.
The decision on the first limited closed issue of preference stocks of Rietumu Bank was taken in autumn 2013, and placement of the issue took place in winter of 2013/2014.
Following successful placement of the first issue, Rietumu Bank has developed a new ongoing programme of the preference stocks offer for its clients and partners. Within the framework of the valid offer, over 16 million preference stocks of Rietumu Bank have been acquired by now. All their holders participate in the distribution of the dividends.
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