According to calculations by Ziarul Financiar (ZF) based on the current trading price, a dividend yield is 4.6%.
Dividends will be paid on September 9, 2021 and the ex-date is August 19. Dividends will be granted subsequent to the share capital increase for the distribution of free shares.
“With 85.44% of the votes, the company’s shareholders voted in favor of the Special Resolution to acquire the Company’s existing shares, under a buy-back program, in a maximum number of 369,156 shares at prices not exceeding by more than five per cent (5%) the average market price of the shares during the last five stock exchange sessions, prior to carrying out the relevant acquisition and authorization to the Company’s Board of Directors to proceed with all the necessary actions. The purpose of the buy-back program is to fully meet obligations arising from the Management Incentive Program for 2022 – 2023 to lock in the purchases in current share prices,” the company said in a stock market report.
This program will be carried out upon increasing the share capital issued at 40 million ordinary shares according to the extraordinary general meeting of shareholders of March 29, 2021.
To this end, “with 95.96% of the votes, the company’s shareholders approved authorization to the Company’s Board of Directors to increase the issued share capital of the Company up to the authorized share capital by issuing a maximum number of 1,000,000 new shares by way of one or several share issuances. The authorization is given for a maximum period of 12 months from the date of the shareholders’ approval for authorization. The shareholders approved to waive the pre-emption rights of the shareholders in respect of any share capital increase decided by the Company’s Board of Directors within the authorized capital,” the report reads.
Purcari has a market value of RON550 million and its shares have been trading up 26% since the beginning of 2021, amid deals worth RON49 million, per stock market data.
Per the company’s annual report for 2020, Purcari’s shareholding structure includes the funds Amboselt Universal (20%), Dealbeta Investments (7.9%), Fiera Capital (7.7%), East Capital (7.6%), Conseq (6.5%) and Paval Holding (5%).