Update on the 2016 fiscal yearNo dividend is to be distributed to ordinary or preference shareholders for the 2016 fiscal year, based on the profit and loss statement for 2016 and in compliance with Article 1(3) of Greek Law 3723/2008 and Article 44a of Greek Law 2190/1920.
Greek Economy Liquidity Enhancement Scheme
Eurobank participates in the Greek Economy Liquidity Enhancement Scheme, by virtue of Greek Law 3723/2008, as currently in force. For the entire period Eurobank participates in the Scheme, in accordance with Article 1(3) of Greek Law 3723/2008, dividend distribution to ordinary shareholders may not exceed 35%, which is the minimum distribution percentage provided in Article 3(1) of Greek Law 148/1967.
Neither Eurobank nor any other member of the Eurobank Group shall pay out dividends before 31.12.2017 or before the preference shares without voting rights held by the Greek State are repaid in full (in case repayment occurs before 31.12.2017) unless:
- The European Commission consents to such an exception.
- Dividend distribution is required by law. However, Eurobank shall not release reserves in order to put itself in such a position.
This restriction does not apply to wholly-owned subsidiaries of Eurobank, as long as the dividend pay-out does not raise any legal obligation to make other payments that have been deferred under the Eurobank Restructuring Plan commitments.