The proposed dividends total CZK 6,081,576,320. The amount of the dividend per share is equal to CZK 160 before tax. The dividend can be claimed by each shareholder holding shares of Komerční banka, a.s., with ISIN CZ0008019106 as of 19 April 2012. The dividend shall be due on 28 May 2012.
The general meeting decided that the part of the profit for 2011 reserved for the dividends corresponding to the treasury shares held by Komerční banka, a.s., and by the companies controlled by Komerční banka, a.s., would be transferred to the retained earnings account. The amount of this part of the profit will be determined based on the number of the treasury shares held by Komerční banka, a.s., and by the companies controlled by Komerční banka, a.s., on the record date; that is, on 19 April 2012.
The general meeting approved the Annual and Consolidated Financial Statements for 2011.
The general meeting elected Mr Bořivoj Kačena as a member of the Supervisory Board with effect from 30 April 2012.
The general meeting also decided on compensation for the Audit Committee Chairman and approved the Contract of Service of the Chairman of the Audit Committee.
The shareholders also decided on the limits on the acquisition of Komerční banka’s ordinary treasury shares under the following conditions:
- The maximum amount of shares that can be held by the bank at any specific moment shall be 3,800,985 ordinary shares representing a total nominal value of CZK 1,900,492,500.
- The share purchase value must be at least CZK 1 per share and at most CZK 6,000 per share.
- The Bank may acquire shares for a period of 18 months.
- Shares may not be acquired by the Bank should such acquisition breach the conditions stipulated in S. 161a (1) (b), (c) and (d) of the Commercial Code.
- For the term of validity of this consent, the bank may buy and sell shares repeatedly without any further restrictions.
The general meeting appointed Ernst & Young Audit, s.r.o. as the external auditor of Komerční banka for 2012.
Komerční banka has long been reporting growth in all key areas, including the development of lending to clients and increase in deposits. Komerční banka’s capital adequacy and liquidity ratios even significantly exceed the tighter requirements of regulatory authorities and KB is ready to meet the requirements of the Basel III regulatory framework, which will be gradually implemented from 2013. On 1 March 2012, the Global Finance magazine named Komerční banka the second safest emerging market bank in Central & Eastern Europe.
Komerční banka is one of the best run universal banks in Central Europe. It provides comprehensive services to clients in the areas of retail, corporate, and investment banking. The Komerční banka Group’s 8,735 employees serve 2.6 million clients, who can use an extensive network of 398 points of sale throughout the country. Komerční banka currently operates 693 ATMs and 1.1 million of its clients use one of direct banking channels. KB is a part of the Société Générale Group.