The supervisory board of the aluminum rolling mill, Impol Seval (IMPL), has convened the AGM for June 20, and the agenda includes the adoption of financial reports for 2022 and a decision on the distribution of profit.
After the company achieved record business results and a FY22 net income of RSD 2.83b, the management proposed a dividend of RSD 821.3m or RSD 871.6 per share.
The proposed dividend is 40% higher than the previous year’s when the company paid the record dividend in its history.
The rest of the profit of about RSD 2bn remains undistributed.
The company fixed June 10 as the record date for the dividend, while payment day is at least within 90 days of the decision’s adoption.
Shares in Impol Seval currently trade at a historical high of RSD 6,400, which gives a dividend yield of 13.6%.
Source: Belex, Momentum