Shareholders Approve Dividend for BAWAG Group
Recently, shareholders of BAWAG Group convened and celebrated a noteworthy decision: the Management and Supervisory Boards' recommendation for a generous dividend of € 5.50 per share for the fiscal year. This approval signifies confidence in the company's financial health and future prospects.
Key Highlights from the Annual General Meeting
During a lively Annual General Meeting, CEO Anas Abuzaakouk shared inspiring insights about the company's accomplishments. He announced that BAWAG Group achieved a remarkable net profit of € 760 million, resulting in an earnings per share (EPS) of € 9.60. The firm also attained a notable return on tangible common equity (RoTCE) of 26% and maintained a cost-income ratio (CIR) of only 33.5%.
Growth Strategies and Future Prospects
Abuzaakouk emphasized the importance of patience, discipline, and strategic planning in reaching these impressive results. He noted that these efforts have paved the way for considerable growth potential as the Group looks to the future, stating, “Despite our record performance in 2024, I’m more excited about our prospects today than I have ever been as our best years lie ahead!”
New Members on the Supervisory Board
The AGM also welcomed new members to the Supervisory Board, representing a mix of expertise and fresh perspectives in governance:
- Pat McClanahan
- Kim Fennebresque
- Frederick Haddad
- Veronika Heise-Rotenburg
- Tamara Kapeller
- Robert Oudmayer
- Tina Reich
- Ahmed Saeed
Following their election, the newly instated Supervisory Board selected Kim Fennebresque as Chairman, who expressed gratitude for the opportunity and welcomed the new members. He underscored the wealth of knowledge they bring, which will help BAWAG Group continue its growth trajectory. He also expressed appreciation for the leadership provided by his predecessor, recognizing the contributions of outgoing members to the company's success.
Understanding the Company's Vision
This year’s Annual General Meeting saw all proposed resolutions approved by the required majority, indicating strong support for the company’s strategic direction. Shareholders can find comprehensive details about the meeting on BAWAG Group's website.
Reporting and Market Operations
Looking ahead, BAWAG Group is set to disclose its Q1 2025 results in a forthcoming report. This commitment to transparency underscores their aim to provide stakeholders with timely and relevant information about their performance.
About BAWAG Group
BAWAG Group AG operates as a publicly listed holding company based in Vienna and serves over 4 million retail and corporate customers across several countries. Their diverse service offerings encompass savings, payment solutions, lending, leasing, investment options, and insurance, all designed with simplicity and transparency in mind.
The company strives to deliver financial products that are not only affordable but also cater to the specific needs of its customers. The continuous growth and expansion throughout Austria, Germany, Switzerland, and beyond reflects their robust market position and dedication to client service.
For additional information about investor relations, the group encourages visiting their investor relations portal where financial data and updates are readily available, ensuring stakeholders remain well-informed.
Frequently Asked Questions
What is the approved dividend amount for BAWAG Group?
The approved dividend is € 5.50 per share for the 2024 financial year.
When will the dividend be paid out?
The dividend will be paid out on April 11, 2025, with the ex-dividend date set for April 8, 2025.
Who is the new Chairman of the Supervisory Board?
Kim Fennebresque has been elected as the Chairman of the Supervisory Board.
What were BAWAG Group's financial performance highlights?
The company reported a net profit of € 760 million and an EPS of € 9.60, reflecting strong financial performance.
How can I stay updated on BAWAG Group’s developments?
Shareholders and interested parties are encouraged to visit BAWAG Group’s investor relations website for the latest updates and financial reports.
