The shareholders of EVERGENT Investments, a company listed on the Bucharest Stock Exchange under the ticker EVER, by a large majority approved all the proposals on the agenda of the Extraordinary and Ordinary General Meetings.
The main resolutions were the approval of a dividend with a yield of 5.39% with a gross value of 0.065 lei/share, of the 7th share buyback program and of the financial statements for the year 2021, in which the company recorded an increase of the net result compared to the budgeted one by 102%.
The value of 62,263,501 lei allocated to dividends represents 41.7% payout ratio from the net result of 2021. The registration date is May 18, 2022 (ex-date May 17, 2022) and the dividend payment date is June 10, 2022.
The Board’s proposals pursue the remuneration of the shareholders, both by granting a cash dividend and by buyback programs from the market.
Thus, EVERGENT Investments will carry out a new share buyback program, “Program 7”, which will target 2.865% of the registered share capital, up to 28,025,000 shares, of which the shares representing 2% of the share capital will be canceled and 0.865% will be used in the Stock Option Plan programs, in order to reward and retain the employees, managers and directors of the company.
The minimum price of the bought back shares will be the market price and the maximum was set at 2.2 lei. “Program 7” will run for a maximum of 18 months and has been proposed following the success of the previous programs, which have helped to sustain the liquidity of EVER shares and led to a 21.9% increase in the net asset value per share (NAVPS) and also led to an increase of the weight held in the share capital for the existing shareholders.
“We thank our shareholders for the votes and the trust they have placed in us. Despite the political and economic climate of uncertainty, we continue to build a solid company. In 2021, we exceeded the significance threshold of 500 million euros of the assets under management, with a well-articulated investment strategy that generated a 19.4% increase in the wealth of our shareholders. Through the optimal mix between the predictable dividend policy and the buyback programs, we return value to our shareholders, both long-term and short-term. This is supported by the dividend distribution rates of recent years, which prove both the predictability of granting dividends giving to shareholders on a consistent basis and the stability of the company’s cash flows, implicitly a strong financial position in the market. In 2022, we will continue to reflect our team’s expertise level, identifying growth and investment opportunities, for which we have allocated a budget of 169.9 million lei.” said Claudiu Doroș, Chairman of the Board and CEO of EVERGENT Investments.
For the financial year 2022, the shareholders of EVERGENT Investments approved a budget of revenues and expenditures that provides revenues of 99.4 million lei, a net profit of 6.2 million lei, a net gain from the sale of own assets of 58.3 million lei and an investment program of 169.9 million lei.