Founded in 1899, the Bank of Cyprus Group is the leading Cypriot banking and financial services group. In 1991, the Group established its first branch in Greece where it has been expanding rapidly since 1999. It has an established banking presence in the United Kingdom and in 2001 it expanded to Australia through a wholly owned subsidiary bank. In addition to retail and commercial banking, the Group's activities include finance, factoring, investment banking, brokerage, fund management, life and general insurance. The Group currently operates through a total of 291 branches, of which 144 operate in Cyprus, 126 in Greece, 6 in the United Kingdom, 11 in Australia, 2 in Romania, 1 in Russia and 1 in the Channel Islands. Bank of Cyprus also has representative offices in Russia, Canada and South Africa. The Bank of Cyprus Group employs 6.759 staff worldwide.
At 30 September 2007, the Group's Total Assets reached C£17,39 bn (29,76 bn euros) and the Shareholders' Funds were C£1,12 bn (1,92 bn euros). The Bank of Cyprus shares are listed on the Cyprus and Athens Stock Exchanges. Additional information can be found at the Group's website www.bankofcyprus.com.
Α. INTERIM DIVIDEND FOR 2007
At its meeting held today, 8 November 2007, the Board of Directors of the Bank decided to pay an interim dividend of C£0,11 (approximately 0,188 euros*) per share.
The ex-dividend date is Tuesday, 27 November 2007, i.e. buy transactions that take place before market close of the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) on 26th November 2007 will be eligible to the interim dividend. Furthermore, eligible investors will be shareholders following off the exchange transfers completed on 26th November 2007. It is noted that any transfers of securities between the Central Depository/Registry of the CSE and the Dematerialised Securities System of the Hellenic Exchanges between 26 to 29 November 2007 will be considered and the dividend will be paid according to the register on which the shares are registered on 29 November 2007.
The dividend will be paid to the eligible shareholders on Wednesday, 12 December 2007.
* Calculated based on the exchange rate of 1 euro = C£0,5842. The payment of the dividend will be based on the exchange rate in force on the working date immediately preceding the ex-dividend date, which may be different than the rate used for the purposes of this announcement.
B. Dividend Reinvestment Plan
Investors are reminded that the Bank of Cyprus Dividend Reinvestment Plan ('the Plan') is in force. The applicable discount offered under the Plan is 10,0%. Based on the 10% discount offered, dividends will be reinvested at 90% of the weighted average closing price of the share at the Cyprus Stock Exchange (CSE) and the Athens Exchange (ATHEX) for the first five working days that the share is quoted ex-dividend.
Investors can obtain the Terms and Operating Conditions of the Plan and the Application Form for Enrollment or Termination of participation in the Plan ('the Application Form') from:
- the Group's website www.bankofcyprus.com (select Inv. Relations / Shareholder Structure & Share / Dividend Reinvestment Plan)
- the Group's Shares & Loan Stock Department in Nicosia, tel. (+357) 22 881755
- the Bank's Custody, Shareholders & Derivatives Clearing Department in Athens, tel. (+30) 210 7767 555
Once an investor enrolls in the Plan, his participation remains in force for all future dividends which will be automatically reinvested on his behalf, unless he requests in writing to withdraw from the Plan or unless the Bank suspends or terminates the Plan.
Investors are reminded that, for their instructions to be valid for the interim dividend 2007 and for all future dividends, the Company must receive their Application Form at least 10 days prior to the ex-dividend date, i.e. by 16th November 2007. If their Application Form is not timely received, their instructions will only be effective for future dividend payments.
In case that part of an investor's shareholding is registered on the Central Depository/Registry of the CSE and part on the Dematerialised Securities System of the Hellenic Exchanges, the investor has to complete a separate Application Form for each Investor Share Code.
C. Analyst Briefing regarding Financial Results for the Nine Months ended 30 September 2007
The analysts' briefing for the financial results of the Group for the nine months ended 30 September 2007 will be held via a teleconference which will take place on Thursday, 8 November 2007. The relevant presentation will be posted on the Group's website www.bankofcyprus.com (Inv. Relations / Presentations).