NKBM plans 0.08 euro dividend

LJUBLJANA: Nova KBM, Slovenia's second largest bank, plans to pay a dividend of 0.08 euro from 2010 profit, compared with the 0.13 euro planned previously. NKBM said on Tuesday the dividend would be lower than initially planned because it would be paid to all shareholders rather than just those who held shares before NKBM's April share issue which boosted its share capital 50 percent.

The bank paid no dividend last year.

The bank also said it planned a further increase of capital by up to 50 percent with a new share issue over the next five years. It said the proceeds will be used to ensure capital adequacy of the bank.

The dividend payment and the capital hike have to be confirmed at a shareholder meeting on July 22.

The bank, which has market capitalisation of 288 million euros ($413 million), in March, reported a 2010 net profit of 11.4 million euros in 2010, down from 12.9 million in 2009.

Copyright Reuters, 2011