Warsaw, 5 May 2015 (ISBnews) - Inter Cars adapted a dividend policy for the years 2014 - 2016, which assumes recommending by the management board payment of dividend in the amount not higher than 60% of consolidated net profit of capital group. For the year 2014, the management board recommends assignment of PLN 10.06m for dividend, which means payment of PLN 0.71 per share, announced the Company.
"The proposal of the Management Board on distribution of profit in particular financial year, including pay-out of the dividend in compliance with the rules adapted in dividend policy, shall depend additionally on investment plans of the Company, existing liabilities (including restrictions resulting from conditions of financing used by the Company), and also assessment of perspectives of company development in current market conditions prepared by the board of directors and supervisory board" - announced the Company.
Moreover the Management Board shall recommend the net profit realized in 2014, in the amount of PLN 95.67m, to be divided in the following way: PLN 10.06m shall be paid in the form of a dividend to shareholders, i.e. PLN 0.71 per share, whilst the rest of the profit (PLN 85.61m) shall be transferred to supplementary capital. The Management Board also decided to recommend to AGM the dividend day to be on 30 June 2015 and payment of the dividend to be realized on 14 July 2015.
Last year, shareholders of Inter Cars adopted a resolution regarding payment of the dividend in the amount of PLN 10.06m, i.e. PLN 0.71 per share of the net profit recorded in 2013 in the amount of PLN 145.78m.
Inter Cars S.A. is the biggest distributor of spare parts for passenger cars and trucks in Central and Eastern Europe. The company went public on Warsaw Stock Exchange in 2004.
Source: Puls Biznesu
2015-05-05