Mauritius Commercial Bank will pay a final dividend

Mauritius Commercial Bank will pay a final dividend of Rs3.25 per share to shareholders by July 29, the bank said. Last month, it said profit rose to Rs4.075 billion ($144.5 million) in the nine months to end-March, mainly from exceptional items and higher fees, commission income and income from foreign exchange trading.

“This brings the total dividend for the financial year ending June 30 to Rs5.75 representing an increase of 9.5% on last year,” Kishen Nadassen, senior research analyst at Cim Stockbrokers told Reuters.

MCB is the biggest bank in east Africa and the Indian Ocean region by assets. “We are expecting a growth of 30% in attributable earnings for MCB and exclusive of exceptional items the growth should be of 18% for this financial year ending June 30,” Nadassen said.