Leuven, 30 April 2010 (17.40 hrs CEST)
Key events in the past quarter
- The assets of KBC Ancora consist almost entirely of a participating interest of 22.97% in KBC Group. KBC Group recorded a negative result of EUR 2.47 billion for the financial year 2009. The underlying profit for the year was EUR 1.72 billion.
- KBC Ancora’s net debt increased from EUR 7.82 per share as at 31 December 2009 to EUR 7.91 per share as at 31 March 2010. This increase was attributable mainly to the pro rata interest charges on outstanding loans.
- KBC Ancora will not receive any dividends from its participating interest in KBC Group in the current financial year. As a result, KBC Ancora will record a recurring loss equivalent to the amount of its operating costs and interest charges. As a consequence, KBC Ancora will not distribute a dividend for the current financial year.
- KBC Group has stated its intention of resuming the distribution of dividends in 2011 (for the financial year 2010). Before KBC Ancora can distribute a dividend, the recurring losses carried forward must first be made good.
Read the full version of the press release.