Relative to Wednesday’s trading prices, of RON9.19 per share, the dividend yield reaches 6%. Nearly RON22 million is expected to get into the hands of investors provided shareholders vote in favor of the proposal.
“The Board of Directors of Purcari Wineries Public Company Limited (hereinafter referred to as the “Issuer”, “Company”) decided today to propose, to the next Annual General Meeting of the shareholders of the Company, a resolution to the effect that dividends in the amount of RON 0.55 per ordinary share be paid to all members of the Company, including the following dates: ex-date: 28.07.2023; – record date is set at 31.07.2023; – payment date: on or about 18.08.2023; The proposal will be submitted for approval to the Annual General Meeting of Shareholders on May 26, 2023,” as per a notification published by the company at the Bucharest Stock Exchange.
Purcari has a market value of RON370 million and its shares have lost 21% over the last 12 months. The company had revenue of RON302 million in 2022 from RON248 million in 2021, and a net profit of RON57 million from RON51.15 million in 2021.