Bank of Tunisia Announces Dividend Distribution and Upcoming General Assembly
Bank of Tunisia has announced that its Board of Directors has decided to convene an ordinary general assembly on April 29, 2025, during which it will propose the distribution of a dividend of 0.350 TND per share. This represents an increase from the previous year's dividend of 0.290 TND per share.
Although the financial statements have not been published, the bank's activity indicators show a net banking product increase of 6.8% to 510,310 MTND. Deposits have improved by 15.4% (6,695 MTND) and credits by 4.3% (6,077 MTND). The net result for the first half of the year stands at 81,171 MTND, representing a 6.2% increase.
It is essential to note that this result will be adjusted considering three significant events that have occurred since its publication: the enactment of the law on August 2, 2024, which introduced a major change in the treatment of long-term fixed-rate loans; the increase in corporate tax to 40%; and the revision of the collective provision calculation method by the Central Bank.
The dividend increase indicates that these factors have not affected the bank's profitability. The dividend yield, calculated based on today's closing price, stands at 6.14%, which is attractive. This news is expected to positively impact the stock price at tomorrow's market opening. The annual yield, which was slightly negative, is set to recover. The uncertainty that has been plaguing the sector will be alleviated, and each establishment that announces a good result will eliminate a part of this thick layer of concern.
