London-based investment fund Helikon Investments Limited has raised its stake in the Bank of Cyprus, according to an announcement by the bank.

The Italian investment fund disclosed that its voting rights, corresponding to shares in the bank, now amount to 4.04 per cent of the share capital, up from the previous 2.04 per cent.

Bank of Cyprus had previously announced a dividend payout of 25 cents per ordinary share for the year 2023, with the ex-dividend date set for April 25.