ČSOB bank will pay out CZK 6.5bn (€253m) in dividends to its mother and sole shareholder, Belgian KBC Bank. This works out to CZK 22.53 per share. ČSOB produced a net profit of CZK 10.64bn in 2011. The portion of profit CSOB gets to keep (CZK 6.5bn) will be paid in dividends and the remaining CZK 4.04bn were transferred to the retained earnings for previous years, according to the weekly magazine tyden.cz. The dividends were lower than in previous years, as in 2009 when ČSOB shelled out a total of CZK 17.4bn to KBC, or CZK 59.4 per share. In 2010, the dividend was CZK 60.87 per share, meaning KBC took home CZK 17.82bn from its daughter company. KBC earned only €13m last year, while in 2010 its profit totaled €1.86bn.
