Athens, Greece. Eurobank S.A. shareholders, meeting in a hybrid annual general meeting on April 28, approved a €258.7 million dividend distribution and a share buyback programme with a total cost limit of €288 million.
Shareholder participation and dividend decision
The meeting was attended by shareholders representing 76.98 per cent of the paid-up share capital, totalling more than 2.77 billion voting shares.
Shareholders approved the board’s proposal to distribute the dividend from the bank’s special reserves account, with the payout subject to final approval from the European Central Bank (ECB).
Share buyback and share capital changes
The assembly approved a share buyback programme with a total cost limit of €288 million, to run for 12 months following regulatory clearance.
Shareholders also approved the cancellation of 28,097,019 own shares, reducing Eurobank’s share capital by approximately €6.18 million.
After the cancellation, the bank’s total share capital will stand at €792,751,032.04, divided into roughly 3.6 billion common voting shares with a nominal value of €0.22 each.
Employee and executive compensation measures
Shareholders approved a €35.2 million distribution to staff from special reserves.
A new five-year programme for the free distribution of shares was established, scheduled to commence later this year for eligible executives and employees of the bank and its affiliates.
Shareholders also approved permission for a higher variable remuneration ratio, allowing the cap between fixed and variable pay to reach a maximum of 200 per cent for selected senior executive roles.
Board update
The meeting ratified the election of Alexandra Reich as an independent non-executive member of the board of directors.
How do you think the dividend and share buyback approvals could affect Eurobank S.A. shareholders over the next 12 months?
