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UPDATE: Secure Trust Bank ups interim dividend as H1 profit rises YOY

Secure Trust Bank PLC's board proposed an interim dividend of 19 pence per share for the first half, up from 18 pence per share a year earlier, as its first-half unaudited profit attributable to equity holders of the company increased year over year to £12.7 million from £9.3 million.

The interim dividend will be paid Sept. 28 to shareholders on the register Aug. 31.

EPS for the period stood at 67.6 pence, compared to 49.8 pence in the first half of 2017.

Given the positive momentum and strong profit growth during the period, the U.K. bank expects further progress in the second half.

"This positive momentum sets us up well for the rest of 2018 and beyond, notwithstanding the economic and political uncertainties," Chairman Michael Forsyth said.

CEO Paul Lynam, however, noted that the lender needs to be mindful that its forward-looking economic indicators are pointing to "a period of low confidence and tepid, albeit slowly improving economic growth."