Pangaea approves '16 dividend, yield at 4.5%


Real estate investment company Pangaea has approved a 0.20 euro per share dividend for 2016, translating into a dividend yield of 4.5%, based on the stock's current price.

Shareholders at Pangaea, the real estate arm of National Bank of Greece, approved a 0.13 euro per share dividend for 2016 earlier this week. This comes after 0.07 euro per share interim dividend paid by the company late last year.

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The share will trade will ex dividend Thursday, May 11.

Pangaea reported last year a 25% jump in profit of 53.5 million euros after having increased its portfolio significantly. The company hopes to soon tap capital markets for up to 400 million euros to further expand acquisitions.

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