The first variant entails the payout of dividends too, in the total amount of RON30.4 million. The second variant entails the use of the funds to carry out a share buyback program.
The first variant targets the payout of a gross dividend of RON0.06 per share, in the total amount of RON30.4 million, and the difference of RON356 million to be allotted to Other Reserves. July 28, 2022 is proposed as the deadline for the payment of dividends.
Relative to trading prices on Monday (March 21), the dividend yield reaches 2.5%.
The second variant proposed by the Board of Directors targets the allocation of the RON387 million profit to Other Reserves, as own funding sources, to support a buyback program for 15.3 million own shares in order to reduce the Company’s share capital.
In substantiating this proposal, the Board of Directors considered the following relevant matters: the current macroeconomic situation, characterized by the persistence of uncertainty and volatility in global and local asset prices; the degree of liquidity of the net profit obtained in 2021 and the relative position of the company in the investment cycle.
SIF Banat-Crisana had a net profit of RON387 million in 2021, up 320% from 2020.
In 2021, SIF Banat-Crisana reported dividend income of RON130.4 million, up 52% from the level reported in the same period of 2020.