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Polish Millennium sees dividends at 35-50 pct of profits until 2017
February 2, 2015 / 6:57 AM / 3 years ago

Polish Millennium sees dividends at 35-50 pct of profits until 2017

WARSAW, Feb 2 (Reuters) - Portuguese BCP’s Polish arm Bank Millennium said on Monday that it planned to maintain the dividend policy that assumes payouts of 35-50 percent of annual profits.

Millennium added in its strategy for 2015-2017 that it targets ROE (return on equity) at 13-14 percent, and costs to income ratio at 45-47 percent. It also wants to increase the number of retail clients to 1.6 million in a 38-million country.

Millennium, which earlier on Monday beat market expectations with its fourth-quarter net profit rise of 10.5 percent, also said it wanted to maintain its strategy of organic growth. (Reporting by Marcin Goclowski; Editing by Adrian Krajewski)

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