Volksbank Annual General Meeting approves dividend and share distribution

Volksbank Annual General Meeting approves dividend and share distribution

The Volksbank's general meeting took place today at the Bolzano Trade Fair, where the approval of the 2023 annual balance sheet and the distribution of a dividend of 0.67 euros per share were decided. Shareholders also have the option of choosing to receive Volksbank shares instead of a cash payment. With a net profit of over 101 million euros for 2023, the appropriation of profits was decided and a gross dividend of 0.67 euros per share was distributed to shareholders, which represents an increase compared to the previous year.

All shareholders have the option of receiving the dividend either in cash or in the form of Volksbank shares. The subscription ratio is 1 share for every 14 shares held. The general meeting also decided to make a further 3.5 million euros available to the fund in order to increase the liquidity of Volksbank shares on the Vorvel trading platform. It was also decided to allocate Volksbank shares to shareholders free of charge.

The Chairman of the Board of Directors, Lukas Ladurner, explained that the bank achieved a profit of 247 million euros over three years, thus maintaining a solid and efficient position in Italy. The bank plans to reward shareholders with more than 50 million euros, including 32 million euros in dividends and 15 million euros in the form of a free allocation of one share for every 30 shares held. Ladurner was confident about the bank's future development and emphasized the strength of the Volksbank share on the Vorvel platform. The introduction of the “Gate 3” trading modality will come into force from the next observation period.