The proposed dividend ensures a shareholder compensation rate of 4.70%, calculated at the average share trading price in 2019 (RON2.1272/share) and 3.91% calculated at the closing price for 2019 (RON2.56/share).
At the current trading prices, the yield is 5.3%, per calculations by Ziarul Financiar (ZF).
Shareholders approved the date of March 22, 2021 as the date of payment of dividends allocated from the net profit of 2019 whose payment was suspended as of July 16, 2020, to the 5,730,349 shareholders of S.I.F. Oltenia S.A., registered in the Financial Instruments Holders Register as of June 12, 2020. Dividends will be allocated to shareholders according to legal provisions; payment-related costs will be borne by the shareholders from the value of net dividends.
Shareholders also approved the allocation of the remaining profit, nearly RON72 million, to other reserves in order to establish the required funds for investments, especially for the development of a programme for the redemption of 22 million own shares with a view to reducing the company’s registered capital.
“We approve the company’s payment of the required amounts to settle the receivable with a total gross value of 16,121,418.83 RON held by 5,730,349 shareholders of S.I.F. Oltenia S.A., registered in the Financial Instruments Holders Register as of 12.06.2020 (the registration date established in the OGSM attendance notice of 28.04.2020), representing dividends allocated from the net profit of 2019 whose payment was suspended as of 16.07.2020,” per SIF’s summoning notice.
SIF Oltenia has a market capitalization of RON989 million and its shares have been trading up 5.56% since the beginning of 2021.