Dividends
Dividend payment policy
The dividend is a share of profit allocated to the shareholder in proportion to the nominal value of shares owned by him.
Persons who were shareholders of the Bank at the end of the record day of rights when the General Meeting declared the dividends or were entitled to receive dividends on other legal grounds shall be entitled to the dividends. Pursuant to the amendments to the Company Law that became effective on 1 July 2008, the record day of the rights of the General Meeting shall be understood as the end of the tenth working day after the General Meeting that adopted the respective decision. The right to dividends emerges from the date of registration of the Statute with the Register of Legal Persons. The shareholder shall have the right to claim the payment of dividend as the creditor of the Bank. The Bank shall have the right to recover the dividend paid out to the shareholder if the shareholder knew or should have known that the dividend was allocated and/or paid unlawfully.
The General Meeting of the Shareholders may adopt a resolution to allot part of the result to be distributed for payment of dividends or other shares of profit and for other purposes, provided the following conditions are satisfied:
- The uncovered loss of the previous fiscal year is brought forward to the beginning of the fiscal year;
- Obligatory appropriations to the legal reserve or the reserve capital and the reserve of stocks as specified in the laws of the Republic of Lithuania are made;
- Appropriations to the reserves specified in the Articles of the Bank are made;
- After paying the dividends and using part of the profit for other purposes, the capital of the Bank corresponds to the requirements of laws and other legal acts.
The general meeting may not adopt the decision to declare and pay dividends if at least one of the following conditions is met:
- The Bank is insolvent or would become insolvent after the payment of dividends;
- The result of the financial year available for appropriation is negative (losses were incurred);
- The equity capital of the Bank is lower or after the payment of dividends would become lower than the aggregate amount of the statutory capital of the Bank, the legal reserve, the revaluation reserve and the reserve for own shares of a public limited liability company.
The Bank must pay the allocated dividends within 1 month after the day of adoption of the decision on profit appropriation. Payment of dividends in advance shall be prohibited. The Bank shall pay the dividends in cash when the shareholder so requests from the Bank.
All the Bank’s shareholders have equal rights to the dividend allocated to them irrespective of the country of their residence.
The amount or payment of dividends is not set by any obligations or agreements. The decision on the payment thereof shall be adopted by the general shareholders meeting when appropriating the profit of the previous year. The dividends shall be paid our once a year. The amount of dividends shall be calculated for each share according to the decision adopted by the shareholders meeting.
The holders of the newly issued shares shall have the same rights to the dividends as those of the already issued shares.
The history of Ūkio bankas dividend payment in the period of
| Amount of calculated (paid) dividends, LTL | Amount of dividend per share, LTL | |
|---|---|---|
| 2011 | - | - |
| 2010 | - | - |
| 2009 | - | - |
| 2008 | 3,934,160.00 | 0.02 |
| 2007 | 1,767,080.00 | 0.01 |
| 2006 | 1,267,080.00 | 0.01 |
