Dividends

Growth and profit opportunities for the Athens International Airport (AIA) make its stock a very attractive proposition, according to analysts.

Investment bank Axia Ventures gives a buy recommendation on AIA stock, with a target price of €9.10 per share. It notes in its analysis that the recently listed stock is a high-value, low-risk recommendation.

Announcing increased profitability for the first half of the year Friday, Alpha Bank also reported the first dividend to shareholders since 2007, as well as plans to increase the size of the dividend as a percentage of profits in subsequent years. 

The shareholders of Piraeus Port Authority (OLP) approved by majority vote all items on the agenda, including the distribution of a dividend at 1.34 euros gross per share for fiscal year 2023, a 29% increase compared to 2022, OLP said in a statement on Thursday.

Greek banks are starting to adjust their dividend policy to the European average, with the approval of the European Central Bank's Single Supervisory Mechanism of the dividend distribution for last year, for the first time in 16 years.

The payment of dividends to the shareholders of banks for the first time in 16 years constitutes yet another milestone that certifies the Greek economy's return to normalcy. It also signifies the success of the financial institutions' restructuring.

The return of Greek banks to distributing dividends to their shareholders is an important milestone for the sector as it confirms the full return to normality, rating agencies comment to Kathimerini.

This development is expected to strengthen the investment mood for their shares, they point out, something that is already becoming apparent on the board of the Athens Stock Exchange.

The European Central Bank is expected to approve a request by Greek banks to resume the payment of dividends after 16 years, four bankers told Reuters on Wednesday, a further sign of the sector's rebound.

Improvements in economic confidence where indicators generated risks for Greece – In hindsight Europe lowers expectations – Peace dividend is over 

Greece's four systemic banks will distribute this year approximately 840 million euros in dividends, out of a total of €3.6 billion, which were the net profits of the previous year.

Greek banks eye dividends on a par with the European average in the coming years, pointing to the high profitability fueled by higher interest rates and clearing their balance sheets of bad loans.