Group Bank AG’s biggest shareholder – Stiftung - may have to sell part of its stake to raise liquidity as (348,2 CZK, 0,32%) will probably not pay a dividend for a second straight year in 2012, Andreas Treichl said yesterday during the day.
“If, unlike what I’m expecting, there’s no dividend payment for 2012 either, the foundation would probably have to sell shares near the end of 2013 to raise liquidity,” Treichl said in the interview. “We are prepared until 2013.”
Stiftung which owns 25% of the company had debt of about 1.2 bln. EUR as of Sept. 30 and its main revenue source is dividend payments from Group Bank. Treichl serves as the foundation’s chairman and also CEO.