Athena yield hits 4.5%

Athena Cyprus Investment Pcl (ATH) declared a 1.25 cent interim dividend or 2.16 euro cents on the back of a sharp jump in 9M profits. Based on the current price of 0.47 euros on the CSE, the dividend yield as calculated by the Financial Mirror amounts to 4.5%.

The interim of 2.16 euros is close to 2.6 euros declared and paid for the whole of 2005.

Athena said the stock will trade ex-dividend on December 4, while the actual payment will be made on December 22, 2006. Power warrant holders who exercise during the period November 24-30 are eligible to participate in the interim dividend, while the company has also offered a dividend reinvestment plan at a 10% discount.