Dividend policy

The TBC PLC Board’s intention is to retain the existing dividend policy of the Bank, subject to the requirements of the Companies Act.

Following Admission, TBC PLC (as a holding company whose principal assets are the shares of its subsidiaries) will rely primarily on dividends and other statutorily and contractually permissible payments from its subsidiaries to generate reserves necessary to meet its obligations and to pay dividends to its shareholders. The regulatory systems under which the Group operates and certain contractual arrangements to which the Bank and/or its subsidiaries are party restrict, to a certain extent, their ability to pay dividends and/or to otherwise provide cash to TBC PLC, which may, in turn, restrict TBC PLC’s ability to pay dividends.

Dividend payment history

 

Payment date Type Total dividends (GEL'000) Dividend per share (GEL) Dividend per share (GBP) Dividend payout ratio
11-Nov-24 Interim 140,640 2.55 0.71 N/A
19-Jul-24 Final 254,885 4.67 1.29 35%5
13-Oct-23 Interim 137,718 2.55 0.78 N/A
14-Jun-23 Final 159,976 2.95 0.93 30%3,4
14-Oct-22 Interim 137,629 2.50 0.77 N/A
15-Jul-22 Final 118,653 2.16 0.60 25%2
17-Sep-21 Interim 81,772 1.50 0.35 N/A
2020 No dividends paid in 2020. In light of the global pandemic and its impact on the Georgian economy, the Board decided not to make any dividend payments.
12-Jul-19 Final 108,622 1.98 0.57  25%
22-Jun-18 Final 88,869 1.64 0.50  25%
14-Jul-17 Final 74,809 1.42 0.46  25%
11-May-16 Final 54,560 1.09 N/A1 25%

1 In 2016 dividends were paid in GEL as the Company was not listed in the premium segment of the LSE at the time.

2 The dividend payout ratio includes interim dividend paid in 2021.

3 The dividend payout ratio includes interim dividend paid in 2022.

4 The dividend payout ratio including buyback in the amount of c. GEL 50 million was 35%.

5 The dividend payout ratio includes interim dividend paid in 2023.