KBC: stock in the dumps after FY results
(CercleFinance.com) - The KBC share is down 6% in Brussels, after the Belgian bank-insurer published a 43% drop in EPS to 3.
34 euros for 2020, despite operating expenses excluding bank taxes that contracted by 4.2% (i.e. above its target of -3.5%).
Boasting a common equity ratio of 17.6%, the group has proposed to pay a (gross) dividend of 0.44 euro per share for 2020, payable in May 2021, and intends to distribute an additional gross dividend of 2 euros per share in the fourth quarter of 2021.
Between 2020 and 2023, KBC targets compound annual growth rate of around 2% for global revenues and around 1% for operating expenses (excluding bank taxes), and a combined ratio of up to 92% by 2023.
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34 euros for 2020, despite operating expenses excluding bank taxes that contracted by 4.2% (i.e. above its target of -3.5%).
Boasting a common equity ratio of 17.6%, the group has proposed to pay a (gross) dividend of 0.44 euro per share for 2020, payable in May 2021, and intends to distribute an additional gross dividend of 2 euros per share in the fourth quarter of 2021.
Between 2020 and 2023, KBC targets compound annual growth rate of around 2% for global revenues and around 1% for operating expenses (excluding bank taxes), and a combined ratio of up to 92% by 2023.
Copyright (c) 2021 CercleFinance.com. All rights reserved.