Ten+ companies paying dividends to their shareholders

Several companies, which are listed on the Cyprus Stock Exchange, have returned to paying dividends for 2022.

In a year of sharp upheavals due to strong inflationary trends and the fallout from the Russian-Ukrainian crisis, companies decided to pay a dividend to their shareholders either from profits for the same year or from profits in 2021.

Among them, is the Bank of Cyprus, which became the first bank in Cyprus and Greece to resume dividend payments after 12 years.

See the list below for more than ten companies that have announced that they will pay a dividend for the previous year.

Bank of Cyprus

Bank of Cyprus is the first bank in Cyprus and Greece, after 12 years, to receive the approval of the European Central Bank to pay a dividend. Dividend payout is expected to conservatively increase gradually, with the target payout ratio ranging between 30-50% of the Group's adjusted profitability before non-recurring items.

The Bank's recent Annual General Meeting approved the payment of a final dividend of €0.05 per ordinary share for the financial year ending on December 31, 2022.

The proposed dividend amounts to a total of €22.3 million.

Vassiliko Cement Factory Public Company

In the context of the company's EGM, the payment of a dividend of €9,351,673.11 was approved, corresponding to €0.13 for each ordinary share, of which €0.085 will be paid from the 2021 profits included in the annuity reserve and €0.045 from 2022 earnings.

The Mall of Cyprus

The Board of Directors of the company, after taking its financial situation into account, decided, last March, to proceed with an interim dividend of a total amount of €4,200,000 which corresponds to €0,042 per share to the company's stockholders.

Alkis H. Hadjikyriacos (Frou Frou Biscuits)

The Annual General Meeting approved the recommendation of the Board of Directors for the payment of a dividend for 2022 of €900,000, compared to €125,000 in 2021.

This dividend corresponds to €0.0091 per share, compared to €0.0013 in 2021 or 3.50%, compared to 0.49% in 2021, of the nominal value of the company's share capital.

It is emphasized that the proposed dividend is equivalent to a dividend yield of 3.37% on the average closing share price of €0.27 on December 31, 2022, up from €0.31 in 2021.

Logicom Public

The approval of dividend payment was decided in the context of the Annual General Meeting of Logicom Public Ltd, for €0.085 per share (25% of the nominal value of the share).

Proposed dividend payment date is July 7, 2023.

Petrolina Holdings

Petrolina's Annual General Meeting gave the green light to pay a final dividend of 4.41% or 1.5 cents per share. The final dividend will be paid to the company's shareholders who will be registered in the Company Registry (CSE) on June 23, 2023 (record date).

Therefore, the company's shares will be traded on the CSE without the right to participate in the dividend distribution from June 22, 2023 (ex-dividend date). The final dividend will be paid to shareholders on 21 July, 2023.

Mallouppas & Papacostas

The Board of Directors decided to pay an interim dividend totaling €864,217.34, which corresponds to €0.02 cents for each fully paid ordinary share.

Top Kinisis Travel

The Annual General Meeting of the Company's shareholders approved the proposal of the Board of Directors to pay a dividend of €0.005 per ordinary share. The proposed dividend amounts to a total of €61,060.05.

Proposed dividend payment date is July 18, 2023.

Blue Island

The company's Annual General Meeting approved the proposal of the Board of Directors to grant a dividend to the shareholders from the profits of 2021.

The amount of the dividend to be paid is €463,135 which is equivalent to €0.03 per share or 17.65% of the nominal value of the share.

Atlantic Insurance

The proposal of the Board of Directors concerns the payment of a dividend of 12.00 cents per share with a nominal value of €0.34. The dividend is equivalent to a dividend yield of 6.7% on the average closing share price on May 24, 2023.

ASBISc Enterprises

The Annual General Meeting announced the payment of a dividend of $0.25 per share.

The total dividend from the company's earnings for 2022 including the interim dividend, paid in December 2022, will amount to $0.45 per share.

(Source: InBusinessNews)