Friday, June 25 2010 15:07
Armeconombank to pay dividends to its shareholders for 2009 calculating 7% per share
ArmInfo. Armeconombank will start paying dividends to its shareholders for 2009 calculating 7% per share (175 drams) starting July 25 at the head office and branches, said Anahit Simonyan, a member and the secretary of Armeconobank Council during the annual assembly of the bank's shareholders on Friday.
The bank will pay a total of 163,3 million drams dividends from the 242.8 million drams net profits for 2009.
A. Simonyan said Armeconombank's shares are listed in "B" category at NASDAQ OMX Armenia. The nominal value of one share is 2500 drams and its imputed value totaled 9320 drams and the market value totaled 7230 drams in 2009. In fact, the imputed and market values exceed the nominal value 3.7-3fold, she said. "The bank is quite attractive for investors as the share of non-resident shareholders of the bank is growing thanks to the bank's efficient dividend policy," A. Simonyan said.
At the same time, Armeconombank shareholders are going to transfer 5 billion drams from the accumulated retained profits of the previous period to the main reserve fund.
The bank's assets grew 4.6% to 52.2 billion drams for 2009, total equity grew 0.7% to 8.7 billion drams and the statutory capital totaled 2.3 billion drams as of Jan 1 2010.
Armeconombank started paying annual dividends to its shareholders in 2002. The bank has 1419 shareholders, including 274 legal entities and 114 privates. The number of the bank's non-resident shareholders totaled 17. The Sukiasyan's Family holds three packages - 53.4%, the European Bank for Reconstruction and Development holds 25%+1 share.
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