Thus, the Bucharest Stock Exchange proposes its shareholders at their Ordinary and Extraordinary General Meeting due in April the distribution of the amount of RON8.6 million as dividends, from the 2020 net profit, respectively a gross dividend of RON1.0672 per share.
Per calculations by Ziarul Financiar, based on the current trading price of a share, the dividend yield is 4.4%. The aggregate value of the repurchase program reaches up to RON2.1 million.
The Bucharest Stock Exchange ended 2020 with an individual net profit of RON9.1 million, up 31% on the year, and revenue of RON26.7 million, up 35% on the year, per preliminary data.
“Shareholders are also expected to approve the buy-back of its own shares by the Company from the market where the shares are listed or by running public offers in accordance with the legal provisions applicable, in the following conditions: a number of maximum 60,369 shares (representing up to 0.75% of the Company’s share capital), at a minimum price equal to the market price from the BVB at the acquisition moment and a maximum price which will be the lesser of RON 35 per share and the higher of the price of the last independent trade and the highest current purchase bid,” per a stock market report.
The programme will have a maximum duration of 18 months, calculated from the date when the incident shareholders’ resolution is published in the Official Gazette of Romania, Part IV and will have as purpose allocation of own shares to the Company’s employees and managers, as well as members of the Board of Governors; granting a mandate for the fulfilment of this resolution to the Board of Governors. The buyback transactions will have as object only fully paid shares and will be purchased only out of distributable profits or of the available reserves of the Company, as registered in the last approved annual financial statement, except for the legal reserves.