The company said the distribution of dividends and the share capital increase will be made from the profit for the period January-March 2021 (first quarter of 2021).
“The distribution of dividends in the total amount of RON 226.615.937 and the share capital increase by allocating one free share per each four shares owned, announced within the Board of Directors’ proposal on March, 9th, 2021, will be made from the profit for the period JanuaryMarch 2021 (quarter 1), because the profit from the sale of the Steel division, of RON 274.148.926 was made by TeraPlast SA in February 2021, when the company transferred to the buyer the ownership right over the Steel Division’s companies”, TeraPlast representatives said in a stock market report.
TeraPlast representatives also said “the report containing the financial statements for the first quarter (Q1) is currently being audited and shall be published on the company’s website in the Investors section – General Meeting of the Shareholders, in accordance with the regulations on the provision of documents submitted for approval on the agenda, after the publication of the Convening notice of the General Meeting of the Shareholders, on May 21st, 2021.”
Teraplast said on March 9, 2021 that it would propose its shareholders the distribution of special dividends, in the total amount of RON226.6 million, and of free shares, from the profit to be registered by the company until the end of March 2021. The gross value of a special dividend is RON0.13 per share and, relative to the current value of shares, the yield reaches 24%.
The company’s management also proposed the increase of TeraPlast’s share capital by RON43.57 million. Thus, one free share will be distributed per each four shares held by shareholders.
TeraPlast Group ended the first quarter of 2021 with a consolidated net profit of RON200.6 million, compared with RON6.14 million in the first quarter of 2020, which also included RON189.4 million representing proceeds from the sale of the Steel business. The profit of businesses that will continue their activity within the group reaches RON11.7 million, twice higher than RON5.3 million reported on March 31, 2020, per data from the quarterly report published on the stock market.