National Bank of Greece to seek shareholder approval for preferred stock sale
M2 EQUITY BITES-December14, 2011--National Bank of Greece to seek shareholder approval for preferred stock sale (C)2011 M2 COMMUNICATIONS http://www.m2.com 14 December 2011 - National Bank of Greece will ask shareholders on 22 December for permission to place preferred, non-voting shares aggregating up to EUR1bn (USD1.3bn), Reuters reported, quoting a bank official. In the event of insufficient turnout at the meeting, the vote will be repeated five days later, the official said. The stock will be issued to the state within a government scheme designed to provide liquidity to local banks. It will pay a 10% dividend. National Bank of Greece has already used EUR350m of its allocation of EUR1.35bn under the programme. A EUR1bn issue will result in a core Tier 1 capital ratio of 11%, 1.5 percentage points above the end-September level. ((Comments on this story may be sent to [email protected]))
Source: M2 Presswire (December 14, 2011 - 6:46 AM EST)



I thought they cancelled all dividends when the SHTF. In fact, I know they did, because I got the last div on the old preferreds. Does this mean that dividends are back on the old shares? I doubt it........