Dividend

The assets of the four Mutual Fund Management Companies (AEDAK) that are subsidiaries of the Greek systemic banks increased by 1.8 billion euros in the first quarter of 2024.

This is indicative of the potential of the market and the rise shown by both foreign and domestic bond and equity mutual funds.

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said. 

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday. 

Greece's four major banks have until the end of the month to submit their capital plans for the next three years to the Single Supervisory Mechanism (SSM) of the European Central Bank, based on which the request for the distribution of 2023 dividends of 10-30% will be assessed.

Cosco-owned Piraeus Port Authority SA (OLP) posted record-high turnover and profits in 2023, the company running Greece's biggest port said.

Total revenues reached 219.8 million euros, up 12.9% from 2022, according to a press statement released on Friday.

After several contradictions, the SYRIZA president said he has been out of the fishing company for a year – However, his references to dividends mean he remains a shareholder, which is also prohibited by SYRIZA law

Greece will proceed with the complete divestment of the state from Piraeus Bank with the disposition of the 27% it controls through the Hellenic Financial Stability Fund (HFSF).

The results announced by Piraeus Bank for 2023 and the publication of the business plan for the next three years, which provides for record profits of 1 billion euros per year for the period 2024-2026, are key arguments in favor of the full divestment of the state from the lender where bank bailout fund HFSF controls 27%.

Greece's investment grade recovery, expected to reduce borrowing costs for businesses while opening the door to a larger investor audience, combined with the start of the ECB's rate-cutting cycle, is accelerating activity for listed companies, supporting new issues of corporate bonds and fresh listings on the Athens Stock Exchange.

The case for Europe has always rested on solving problems that countries could not address alone. After the Second World War, visionary leaders understood that the only way to secure peace on our continent was to unite our economies. And a united Europe would, in time, require a single currency to make the most of the economic benefits created by this peace dividend.

Greek banks have long been on the market's radar following their turnaround with a return to profitability, an impressive boost to earnings from the ECB's rate hikes, a significant decline in NPE ratios and management estimates for dividend distribution after many years.