Ercros increases dividend by 76.5%
The shareholders meeting is called for 06-16-2023
The Ercros board of directors has proposed to the shareholders annual meeting the payment of a dividend of 15 cents per share, 76.5% higher than the one paid in the previous year (8.5 cents) and the highest ever received by the Ercros shareholders. The amount allocated to pay the dividend reaches 13.72 million euros and, if it is approved, will be effective on June 28.
Also, in the context of the shareholder remuneration, the board proposes to the shareholders' meeting a share capital reduction of 5.34%, through the redemption of 5.16 million treasury shares, the purchase of which has involved a disbursement of 18.76 million euros. If this proposal is accepted, the Ercros share capital will be set at 27.43 million euros and will be represented by 91.44 million shares.
Between dividend and redemption of shares, if the meeting approves it and in compliance with the shareholder remuneration policy for 2022, Ercros will disburse a total of 32.48 million euros. This amount represents a payout of 50% of the 64.97 million profit that the Company obtained in 2022, of which 28.9% has been allocated to repurchase treasury shares and 21.1% will be used to pay the dividend.