“The management of Sphera Franchise Group S.A. (hereinafter referred to as the “Group”) informs the market regarding the intention to distribute an additional dividend in 2024, in accordance with the Group’s Dividend Policy, which allows, in the absence of exceptional market conditions or circumstances, to distribute a maximum of 100% of the distributable profit, subject to any restrictions imposed by the legal and fiscal regulations in Romania or any obligation undertaken in this regard through financing contracts”, the report shows.
The dividend yield reaches 3.3% based on the current price per share, of RON31.9.
“The management of the Group reminds investors that the proposal of the Board of Directors to distribute a gross dividend/share, in the amount of RON1.05, will be subject to the approval of the Ordinary General Meeting of Shareholders, convened for April 26, 2024 (first call)”, as per the report.
According to the report, “Taking into account the restrictions mentioned above, the status of achieving the budget presented by the company and the market conditions, the Board of Directors intends to propose to the shareholders a new distribution of dividends, similar to the one in April, in the second half of 2024”.
The company reported record sales of RON1.5 billion in 2023, up 11% on the year, and net profit of nearly RON80 million, up 80% on the year. SFG shares have gained 24% so far in 2024 and 85% in the last 12 months, ensuring a market value of RON1.2 billion.