Time is counting down, so his head Piraeus Street, Christ Megaloto give… joy to the shareholders of the listed company, distributing the first dividend of the post-Memorial era.
Approval for distribution of 79 million eurosthat is, 10% of the previous year’s profits will be allocated to the annual Ordinary General Meeting, scheduled for Friday (28/06), while the cut of the relevant law will take place on July 10th.
Stassis: The near bankruptcy, the full recovery and the dividend of 95 million euros
Seven years after assuming the role of managing director, Christos Megalou – an experienced banking executive with many years of service at Fairfax, Eurobank, Credit Suisse, Agrotiki Bank, etc. a rather painful turnaround story, implementing, on the one hand, the critical story Share Capital Increase 2021 (1.38 billion euros), on the one hand the historic bank privatizationwith the sale of 27% by the Greek government.
The 2024 goals
For 2024, the CEO of Piraeus is optimistic that even more… sunny days will come, with the aim of achieving profitability of 1 billion eurosto present a financial margin of 2 billion euros, to develop a productive loan portfolio of 31.7 billion euros, but also to further reduce the cost of risk to around 0.7% on loans.
All of this will likely lead to a new dividend distributionthis time from his class 25% to 30% in annual profitability (i.e. 250 to 300 million euros).
Deals worth €7.2 billion are changing the “map” of energy in Greece
The course of the stock
On the other hand, Christos Megalou makes it clear that he is partly concerned about his recent folding to sharewhich fell to the lowest levels since early January, 18% discount compared to March highs (4.2 euros) but also 15% of the price of the recent placement (4.0 euros).
However, no one can complain about the demonstration of recent years, which temporarily triggered the bank value up to 5 billion euros. Especially, if we consider that in 2022 the stock fell to nadir of 0.7 euros.
Peristeris: The immediate benefit of 260 million euros and the next day – without TENERG –
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any share)