Estonia, Financial Services, Port, Transport
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Saturday, 27.04.2024, 03:31
Tallink eyeing 80 mln euros payout to shareholders in 2019
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.