Bank of Cyprus declares €0.70 total dividend for 2025

The Bank of Cyprus (BoC) on Monday announced that shareholders approved a final cash dividend of €0.50 per share for the 2025 financial year, marking the largest payout since the bank resumed distributions in 2022.

The approval followed the outcome of the annual general meeting held on May 15, confirming a total dividend of €0.70 per share when combined with the interim dividend of €0.20 already paid in October 2025.

The bank said the total distribution amounts to €305 million, representing an increase of approximately 25 per cent year-on-year.

This corresponds to a 70 per cent payout ratio, placing it at the top end of the group’s stated 2025 distribution policy.

The dividend will go ex-dividend on May 25, 2026, with a record date set for May 26, 2026.

Moreover, payment is scheduled to be made on June 24, 2026 to shareholders listed on the register as of the record date.

The method of payment will depend on how shares are held, with different arrangements applying across Cyprus Stock Exchange (CSE) depositary interests, Euronext Athens holdings, and Euroclear system participants.

For investors holding shares through the Cyprus Stock Exchange system, payments will be made either via electronic transfer or cheque, based on details recorded in the central securities registry, the bank said.

Those holding shares through Euronext Athens or the Euroclear system will receive payments via their respective participants, with Euroclear Bank acting as paying agent.

Shareholders registered directly on the company’s books will receive their dividend through cheque or electronic transfer, with MUFG Corporate Markets Trustees (Nominees) Limited serving as the paying agent.

The bank also issued an important notice to depositary interest holders, stating that this will be the final dividend where payments may be made by cheque.

It explained that future distributions are expected to be made solely via electronic transfer, following amendments to the company’s articles of association approved at the AGM.

Under the revised framework, the board has discretion to require electronic payments, and may retain dividend amounts if shareholders have not provided valid bank account details.

Any such retained amounts may be forfeited after six years if left unclaimed, in line with the company’s articles.

The bank urged shareholders who have not yet submitted their bank details to do so promptly in order to avoid delays or potential loss of future payments.

It also stated that dividend payments of €2.00 or less may not be made unless a shareholder specifically requests payment and provides the necessary account information.

On taxation, the bank confirmed that the Special Defence Contribution applies at a rate of 17 per cent under a ruling by Cyprus tax authorities.

For Cyprus tax resident and domiciled individuals holding depositary interests, the 17 per cent tax will be withheld at source, with no further SDC liability on the dividend.

For other shareholders, responsibility for meeting any applicable tax obligations rests with the individual, depending on their jurisdiction.

The bank added that the tax treatment outlined does not affect any additional obligations, including potential contributions to the General Healthcare System (GHS).