The allocation of €21 million to eligible employees of the Alpha Group as a reward for their contribution to the achievement of strategic goals, the cancellation of 59,018,043 treasury shares, the adoption of a new share buyback program, and the distribution of a final dividend of €0.065 per share are matters on which Alpha Bank shareholders are invited to vote at the upcoming annual general meeting.
The bank’s Board of Directors proposes to allocate €19.9 million to (eligible) employees of Alpha Bank, as well as €1.1 million to employees of other group companies, by granting the Board the authority to provide bonuses to subsidiary staff, either from their profits during the 2025 fiscal year, or from discretionary reserves.
The shareholder remuneration rate corresponds to 55% of the 2025 fiscal year profits, through the distribution of an interim dividend and a dividend, as well as the financing of a share buyback program. Specifically, €518 million will be allocated, of which 50% (€259.39 million) will be used for cash dividends and interim dividends, and the remaining 50% for share buybacks.
Given that €111.38 million was allocated last December for the interim dividend, €148 million will be allocated for the final dividend, corresponding to a gross amount per share of €0.065. The proposed ex-dividend date is July 1, the record date is July 2, and the payment date is July 8.
New buyback with a maximum expenditure of €297.39 million
The general meeting is called upon to approve the cancellation of 59,018,043 treasury shares, acquired between September 2025 and April 2026, at an average weighted purchase price of €3.5714 per share and a total cost of €210.77 million.
Following the cancellation, it is proposed to establish a new buyback program for up to 205,000,000 treasury shares (i.e., up to 9.1% of the share capital, following the cancellation of treasury shares), with a minimum purchase price of €0.29 and a maximum of €7, and a maximum amount of €297.39 million available.
The program is divided into two sub-sections: Shares worth €259.39 million will be purchased for cancellation, as mentioned above, while shares worth up to €38 million will be acquired for distribution to management, executives, and staff based on the bank’s incentive programs.
Finally, the shareholders are asked to approve the offset of €1.57 billion using €1.33 billion from the share premium account and €0.245 billion from the special reserve resulting from a share capital reduction, as well as the increase in the annual remuneration of non-executive board members to €90,000 and that of Board Chairman Mr. Tsitsirangos to €390,000.
Last year, non-executive board members, including independent members, had total compensation of 1.41 million euros