Tallinna Vesi Proposes Dividend and Approves Annual Report
Tallinna Vesi's Supervisory Council Approves Annual Report
The Supervisory Council of AS Tallinna Vesi has recently approved the audited annual report for 2024, which is set to be presented for confirmation at the Annual General Meeting of Shareholders. The financial outcomes align perfectly with the unaudited figures that were disclosed earlier this year.
Sales Performance Overview
Tallinna Vesi has reported impressive fourth-quarter sales, reaching €17.67 million. This demonstrates the company's strong operational performance and continued resilience in the water service sector. The consistent revenue figures highlight the effective management and strategic initiatives undertaken by Tallinna Vesi.
Dividend Proposal by Management Board
In a bid to promote shareholder confidence and investment transparency, Tallinna Vesi has developed a comprehensive dividend policy founded on the regulatory pricing principles governing water services. This policy is designed to distribute between 50% to 80% of the company's annual profit to its shareholders. The Management Board recommends that the Annual General Meeting of Shareholders allocate €10.6 million from the consolidated retained earnings as dividends, resulting in a dividend payment of €0.53 per share.
Distribution of Profits
The proposed dividend distribution will involve utilizing €10.6 million from consolidated retained earnings, which total €82.1 million as of the end of 2024. Shareholders will experience a rewarding payout, reflecting 80% of the company's net profit for the year. The remaining earnings will stay undistributed, ensuring prudent financial management for potential opportunistic investments.
Important Dates for Shareholders
To facilitate the dividend distribution process, the record date is set for June 10, 2025. Thus, all shareholders listed in the Nasdaq CSD settlement system as of the close of business on that date will be eligible for dividends. Following this, the rights linked to the shares will change on June 9, 2025. Therefore, any individual acquiring shares after this date will not qualify for the 2024 dividend payout.
Dividend Payment Schedule
The anticipated payment date for these dividends is June 17, 2025, marking a significant milestone for shareholders eager to receive returns on their investments. This well-structured timing ensures that shareholders can plan accordingly.
Further Insights into the Company
Tallinna Vesi has consistently showcased its commitment to providing quality water services while ensuring sustainable financial growth. The company’s strategic approach towards dividends reflects its strong financial health and dedication to enhancing shareholder value. By remaining transparent about financial performance, Tallinna Vesi strengthens its relationship with investors and establishes itself as a trustworthy entity in the water utility sector.
As the Chief Financial Officer, Taavi Gröön, stated, the aim is not only to generate profits but also to maintain a diligent and responsible dividend policy that aligns with the shareholders' interests and the company’s long-term goals.
Frequently Asked Questions
What is the approved dividend per share for 2024?
The proposed dividend for 2024 is €0.53 per share, amounting to 80% of the company's net profit.
When will the dividends be paid to shareholders?
Dividends are scheduled to be paid on June 17, 2025, to all eligible shareholders.
How much was Tallinna Vesi's fourth-quarter sales?
The fourth-quarter sales reached €17.67 million, indicating solid financial performance.
What is the significance of the record date for dividends?
The record date is crucial for determining which shareholders are eligible to receive dividends, set for June 10, 2025.
Who can investors contact for more information?
Investors may reach out to Taavi Gröön, the Chief Financial Officer at Tallinna Vesi, for further inquiries at (372) 62 62 200.
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