March 20, 2013 / 9:08 AM / 5 years ago

Pop Milano sees return to dividend after repayment of state aid

MILAN, March 20 (Reuters) - Italian mid-sized lender Banco Popolare di Milano will resume paying dividends after paying back 500 million euros of state aid, said the chairman of the bank’s management board Andrea Bonomi.

The lender said late on Tuesday it had approved a rights issue of up to 500 million euros to repay bonds subscribed by the state in 2009.

“The capital strengthening will raise our Core Tier 1 ratio above 10 percent and this will allow us to return to pay a dividend,” Bonomi told analysts on a conference call.

Reporting by Andrea Mandala, editing by Francesca Landini

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