The management board of Bank BPH has recommended a dividend of PLN 36.2 per share (up 21% y/y, compare to a dividend of PLN 30.0 per share last year) that equals to a payout ratio of some 86% and a dividend yield of 3.9%. The suggested date for a dividend right is May 17 and the dividend payment date is May 31.
Our view: We expect only slightly positive market reaction as this is in line with recent management comments and dividend policy of the bank.