Last May 21, Moroccan Bank of Commerce and Industry (BMCI), local BNP Paribas subsidiary (66.7% of the capital) boosted shares on the Casablanca Stock Exchange. This follows a general meeting notice proposing a MAD87 dividend per share for the 2017 financial year.

On that day, the BMCI share recorded the strongest rise on the stock exchange (5, 8%), but also the largest volume of exchanges (MAD42, 4 million). This is the most important transaction on the share in almost 10 days and it has reportedly attracted many investors.

At this payout level, the current return of BMCI share stands at 9.7%. This return is higher than that of the main index of the Moroccan financial market (MASI) which was 7.75% over the last 12 months, according to indicators provided by African-Markets.

For the record, BMCI generated in 2017 a consolidated net income increase by 26.8% to MAD 547 million (49.73 million euros at current rate). This performance was achieved despite a MAD3.02 billion consolidated net banking income, slightly down by 1.3% compared with 2016.

Idriss Linge