Millennium BCP, Portugal´s biggest private bank, will pay its shareholders, including China´s Fosun, dividends worth EUR 250 million on last year´s results.
The executive chairman of the bank, Miguel Maya, said that the decision was on a payout of 30% on the 2023 net result of EUR 856 million.
In the previous year, the bank paid in dividends 10% of earnings, in a “transition” period, and the payout level decided this year is “for the future, of normality,” Maya said.
Fosun Committed to Portugal’s Millennium bcp Despite Stake Cut
BCP has as its main shareholder, with a 20.3% stake, Chinese group Fosun, that in January sold approximately 5.60% of the capital of the bank for about EUR 235.2 million.
After the sale, the chairman of BCP, Nuno Amado, refused to comment on the sale by Fosun, saying only that the bank “is in good health”.
The second largest shareholder of BCP is Angolan oil company Sonangol, which at the end of June had 19% of the bank.
Fosun´s Fidelidade buys 70% of Mozambican insurance company SIM
BCP announced on monday net profits of 856 million euros in 2023 (four times more than the EUR 197,4 million of the previous year).
The bank has a large dispersion of capital, with more than 100 thousand shareholders.
