TBC Bank Group PLC ("TBC PLC") announces that its Annual Report and Accounts for the financial year ended on 31 December 2022 (the "Annual Report 2022") has been published today and is available to view on TBC PLC's website at www.tbcbankgroup.com.
A copy of the Annual Report 2022 has been submitted to the National Storage Mechanism and will shortly be available for inspection at https://data.fca.org.uk/#/nsm/nationalstoragemechanism. In compliance with its obligations under section 6.3.5(1) of the Disclosure Guidance and Transparency Rules, TBC PLC hereby releases the unedited full text of its Annual Report 2022.
In addition, the Board of Directors of TBC PLC, subject to shareholders' approval, is recommending a final dividend of GEL 2.95 per TBC PLC share (the "Final Dividend"). If approved, the Final Dividend will be paid on 14 June 2023 to shareholders who are on the register of members at 6:00 pm (BST) on the record date of 12 May 2023. The ex-dividend date for the Final Dividend will be 11 May 2023. The Georgian Lari to Pound Sterling exchange rate that will apply to the final dividend payments on the conversion date of 19 May 2023 will be the average exchange rate of the National Bank of Georgia for the period of 15 May 2023 to and including of 19 May 2023 (5 days average).
The Final Dividend, together with the interim dividend of GEL 2.5 per TBC PLC share paid on 14 October 2022, will equate to a total dividend in respect of the year ended 31 December 2022 of GEL 5.45 per share. In addition, TBC PLC completed a share buyback in the amount of c. GEL 50 million. This represents a 30% dividend payout ratio, supplemented by a buyback equivalent of c. 5%, bringing total distribution as a share of net income to 35% for 2022 (2021: 25%).
