Bank of Cyprus: Shareholders greenlight the dividend and Board members elected and re-elected

Shareholders opened the way for the payment of a dividend by the Bank of Cyprus during the bank’s annual general meeting.

The relevant resolution (Resolution 7), was unanimously approved and provides for the payment of a final dividend for the fiscal year ended December 31, 2023 for the amount of €0.25 per ordinary share, as proposed by the company's directors and approved by the European Central Bank, to shareholders registered on the register of members on 26 April 2024, which will be paid on 14 June 2024.

It is recalled that the Bank of Cyprus had issued a notice calling on its shareholders to authorise it for electronic payment of the dividend.

The choice of electronic dividend payment can be made in the following ways:

1. CSE shareholders, who are customers of Bank of Cyprus Public Company Ltd and subscribers to 1bank, can, via 1bank Internet Banking (https://online.bankofcyprus.com/Login_UI/Login by selecting Profile/Dividend Payment) or BoC Mobile app (by selecting Personal Information / Dividend Payment), submit their instructions to receive their dividend payments electronically to an account in their name at the Bank of Cyprus.
2. CSE shareholders who are Bank of Cyprus customers, but are not 1bank subscribers, can become free subscribers and obtain access codes through Internet Banking or the BoC Mobile app and then submit their instructions.
3. CSE shareholders who are not currently customers of the Bank of Cyprus can become customers by opening an account with the Bank of Cyprus through the application, BoC Mobile app, and then submit their instructions.
4. CSE shareholders who wish to receive their dividends by electronic transfer to other financial institutions may submit their instructions in writing by sending the corresponding forms in accordance with the instructions written therein. The form is posted here .

CSE shareholders in a common share or legal entities

Those who hold shares in a common portion or are legal entities should complete the relevant forms found here .

Election and re-election to the Board of Directors

During the general meeting of the Bank of Cyprus, another 16 Resolutions were put to vote, which were approved, either unanimously or by an overwhelming majority.

Among other things, the shareholders were invited to vote regarding the re-election of the following directors of the Group, with separate resolutions:

• Efstratios-Georgios (Takis) Arapoglou
• Lyn Grobler
• Panicos Nicolaou
• Constantine Iordanou
• Eliza Livadiotou
• Monique Hemerijck
• Adrian Lewis

All were re-elected unanimously or almost unanimously.

Also, the appointment of the bank's new directors, Christian Hansmeyer and Stuart Birrell, was put to a vote, and they were elected unanimously.

It is worth mentioning that Christian Hansmeyer was nominated by the Board of Directors for appointment, during its session on 30 August, 2023, as a new member of the Board of Directors and ESG expert, while Stuart Birrell was nominated by the Board of Directors Council for appointment, at its meeting on 26 September 2023, as a new member of the Board of Directors and as an expert on technology and cyberspace.

Both of their appointments to the Board of Directors of the Bank of Cyprus is subject to the approval of the European Central Bank.

Other resolutions

Additionally, during the meeting, the following were discussed and put to vote for approval:

• The Financial Statements for the year ended 31 December 2023 together with the reports of the Board of Directors and the Auditors.
• The remuneration of the auditors of the company.
• The annual ordinary remuneration of the Directors, which, in the case where a Director holds more than one specified position, will be cumulative, unless otherwise specified.

(Source: InBusinessNews)