Bank of Cyprus Holdings PLC - Nicosia-based lender with 64 branches across Cyprus - Launches €25 million share buyback programme, running from Friday until up to March 14 next year. The buyback was first announced by Bank of Cyprus back on March 20, when it said it had received approval from the European Central Bank to pay a cash dividend and conduct a share buyback. It will pay a dividend of €0.25 per share for 2023, up from €0.05 for 2022, on the back of higher earnings last year. Pretax profit for 2023 was €561.9 million, up from €90.7 million in 2022, as interest income doubled to €920.1 million from €428.8 million.

The buyback programme will be run by Numis Securities, part of Deutsche Bank AG, together with Cyprus Investment & Securities Corp Ltd.

Current stock price: 316.00 pence

12-month change: up 45%

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