Tsokkos keeps dividend at 0.5c

A. Tsokkos Hotels (TSH) approved the final results for 2004, showing net profits of CYP 2.658.000 compared to CYP 2.618.000 in 2003 and decided to keep the dividend at the interim stage of 0.5 cent per share.

Earnings per share improved to 1.09 cent from 1.06 cent in 2003, mostly due to the reduction in the listed shares, which fell from 251.2 mln to 243.32 mln including the buy back shares amounting to 4.88 mln.

Book value improved slightly to 0.37 cent per share for a price to book value of 0.29x and a price to earnings ratio of 9.85x. Based on the 0.5 cent per share interim dividend paid, the yield is 4.65%.