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Resurs Holding ups FY'17 dividend by 10% YOY

Resurs Holding AB (publ)'s board on Feb. 6 proposed a dividend of 1.80 Swedish kronor per share in addition to the dividend of 1.50 kronor per share paid in November 2017, representing a total dividend of 3.30 kronor per share for full-year 2017.

The full-year 2017 total dividend represents an increase of 10% from the dividend paid a year ago, the Swedish lender noted. The dividend will be paid May 7, with a record date of May 2.

The bank's board said it aims to continue to propose dividends every half-year.

Resurs Holding reported fourth-quarter 2017 consolidated net profit attributable to the bank's shareholders of 289.3 million kronor, up from 244.3 million kronor in the year-ago period. The full-year 2017 attributable net profit reached 1.08 billion kronor, up from 904.8 million kronor in 2016.

The company increased its target for annual lending growth to more than 10% from about 10%, dropped its target for C/I ratio to less than 40% from 40%, and pegged its target for NBI margin at 10% to 12%, in line with levels of recent years.

As of Feb. 6, US$1 was equivalent to 7.96 Swedish kronor.