Nbg, as was obligated, sold all adr’s rights in greek stockmarket and all adr’s holders instead of 2 new shares* for every 9 old shares will receive $0.3062 per adr, I am not sure for ex-right date, probably is 23rd July, for sure call yr stockbroker.
*each new share cost €11.3
I confirm cash return of $0.3062 per adr due to last capital issue.
Today completed the capital issue with success of 2.2 times overload, nbg was asking for €1.25b and finally offered about €2.7b.
Also I want to clarify that nbg received €350m. from government not due to the global financial crisis but due to high pressure from Greek newspapers, otherwise for nbg €350m. are just 1q earnings only, as well as nbg will return very soon the above amount and will be at once again free for giving dividend very very soon.
For now the first priority of nbg is to be found a big bank to Romania and Egypt for acquisition.
You must be a new investor, since the last 3 months. It's old news now, but NBG took a capitalization loan from the Greek government due to the global financial crisis, one condition of which is that NBG will pay no dividends like they used to (50 percent of net income payout ratio) for all of 2009, probably none at all. We don't know how soon Arapoglou will repay that capitalization loan and restore dividends, but probably in 2010 due to the fact that Turkey (Finansbank in Turkey is a subsidiary of NBG) is going to help in Iraq's reconstruction. Portfolio 01.
I'm confused. According to td ameritrade, there will be a dividend of .3062.
Ex-dividend date of 7/23, record date of 7/27, and a pay date of 08/06.
Will there or won't there be a dividend for us stockholders of nbg?
It seems that we still have no news about cash/share position for the previous stock subscription thing. Dividend will also not be given according to the annual report. For those who need steady cash flow, NBG seems not to be your first choice.