Tsokkos declares bumper dividends

A. Tsokkos Hotels (TSH) surprised markets with the declaration of bumper dividends for three years combined in one super payment, giving a satisfactory yield of 7%.

At a meeting held on June 24, 2005, the Board of Directors of A. Tsokkos Hotels Public Ltd decided to pay an interim dividend of 0.4 per share for 2005, compared to 0.50 cent interim paid in 2004.

However, the Board more than compensated the slight decline in the interim for 2005 by proposing to pay a final dividend of 0.2 cents for 2003 and 0.1 cent for 2004.

The proposals will be submitted to the forthcoming Annual General Meeting to be held on July 27, 2005 for approval. Once approved, the total sum of 0.7 cents per share will be paid to all shareholders registered in the Shares Registry on November 25, 2005. The shares will trade ex-dividend on November 23 and 24, 2005.

The dividend will be posted to the shareholders on December 19, 2005.

Based on current prices, the dividend yield as calculated by the Financial Mirror amounts to 7%.