Chairman of the Board of Coop Pank Margus Rink said that dividends are paid almost entirely to Estonian investors: “Coop Pank shareholders are mainly Estonian residents, so 98% of our dividends go to the accounts of Estonian people and businesses. Thus, Coop Pank’s income contributes to improving life and the economy of Estonia as a whole. We also encourage all our shareholders to contribute in their own way to the growth of the bank, and the best way to do this is to transfer their salaries and settlements to Coop Pank, making us their home bank.”
According to Coop Pank’s dividend policy, from 2022 the bank pays out 25% of profits in the form of dividends. The bank’s shareholders approved the payment of dividends for this year at a general meeting held in April. As of April 30, 2024, Coop Pank had 37,200 shareholders.
The list of shareholders entitled to receive dividends was approved on May 3. The dividend amount will be transferred today, May 7, to the current accounts of the shareholders, which they have allocated for servicing their respective securities accounts. Payment is made automatically, and shareholders do not need to contact the bank separately.
Estonian-owned Coop Pank is one of the five universal banks operating in Estonia. The number of clients using Coop Pank for their daily banking is 189,000. Coop Pank aims to put the synergy generated by the interaction of retail business and banking to good use and to bring everyday banking services closer to people’s homes. The strategic owner of the bank is the domestic retail chain Coop Eesti comprising 320 stores.
Today Coop Pank pays dividends to 37,200 shareholders
Today, the domestic Coop Pank will transfer dividends of 8.7 cents per share – a total of 8.9 million euros – to the accounts of its 37,200 shareholders.