February 9, 2017 / 6:23 AM / in 8 months

Komercni Banka proposes dividend of 40 crowns/share; Q4 profit rises 6 pct

PRAGUE, Feb 9 (Reuters) - Komercni Banka has proposed a dividend of 40 crowns ($1.58) per share from its 2016 attributable net profit, as expected, the Czech lender said on Thursday.

Komercni Banka said the payout was 55.5 percent of its 2016 profit, and that the board intended to propose a dividend payout of 60 percent of net profit to be achieved in 2017.

The bank, majority owned by France’s Societe Generale , reported on Thursday a 6.1 percent rise in its fourth-quarter attributable net profit to 3.05 billion crowns, slightly above the average estimate of 3.01 billion crowns in a Thomson Reuters poll. ($1 = 25.2710 Czech crowns) (Reporting by Robert Muller; Editing by Subhranshu Sahu)

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