At Friday’s closing prices, the dividends have a yield of 4.7%. SIF Moldova will start paying dividends on June 11, 2020.
Shareholders also decided RON68.3 million out of the 2019 profit would be kept as reserves.
Shareholders also approved a lowering of the share capital by RON1.27 million, down to RON98.9 million.
SIF Moldova is also looking to buy back maximum 20.8 million of its own shares (around 2% of its share capital), of which it plans to annul maximum 11 million shares and thus lower its share capital. It plans to offer maximum 9.8 million shares acquired in the upcoming buyback program to management and employees.
The fund seeks to pay a maximum price of RON1.6 per share.
For 2020, SIF Moldova expects total revenues of RON88.8 million and a net profit of RON39 million.
Shareholders also eliminated a 5% ownership cap effective July 24, 2020.