Estonia, Financial Services, Port, Transport

International Internet Magazine. Baltic States news & analytics Sunday, 16.06.2019, 08:20

Tallink eyeing 80 mln euros payout to shareholders in 2019

BC, Tallinn, 10.10.2018.Print version
The management board of the listed Estonian shipper Tallink has endorsed a proposal of the supervisory board to increase dividend payouts and reduce stock capital, which could mean a payout of approximately 80 mln to shareholders next year, informs LETA/BNS.

The company announced that the management board has decided to supplement the company's dividend policy, according to which if the economic performance enables it, dividends would be paid in the minimum amount of five cents per share.

The supervisory board also proposed to the management board, for the purpose of improving the company's capital structure, to prepare a proposal for the 2019 general meeting of shareholders to reduce the company's share capital by at least seven cents per share, Tallink told the stock exchange.

The last time Tallink Grupp changed its dividend policy was in May 2018, when it announced in the interim report on the first quarter of the year that it will raise the minimum dividend from two cents to three cents from 2019.

The CEO, Paavo Nogene, said that the decisions made by the supervisory board and the management board definitely are good news for shareholders. He said that Tallink wishes to offer a good dividend yield and a long-term feeling of confidence to both its existing and future shareholders.

"Our message to those who already hold Tallink shares on the Tallinn stock exchange and also to those becoming able to buy our shares on the Helsinki stock exchange soon is clear -- Tallink is the right choice and it pays to invest in Tallink," Nogene added.

Tallink has issued approximately 670 mln shares, which means that a dividend of five cents a share would mean a payout of 33.5 mln euros a year. Reducing share capital by seven cents would mean a payout of approximately 47 mln euros.


Search site