Truecaller Board Proposes Shareholder Dividend and Strategy
Truecaller Board Proposes Significant Dividend Distribution
The Board of Directors at Truecaller has put forth an exciting proposal aimed at benefiting its shareholders. They have resolved to recommend a dividend of SEK 1.70 per share for the fiscal year, alongside a cancellation of over 3.9 million repurchased shares. This proposal further includes a request for the Annual General Meeting to authorize the Board to repurchase up to 10% of the outstanding shares, enabling a robust approach to capital management.
Dividend Policy Introduction and Financial Insights
Truecaller’s board has established a new dividend policy highlighting their commitment to sharing profits with shareholders. It mandates that 25% of each year’s net profit will be allocated for shareholder dividends. For the upcoming financial year, this translates to SEK 0.37 per share. Additionally, they are recommending an extra dividend of SEK 1.33 per share. Such moves signal the Board's confidence in the company’s ongoing financial strength.
Financial Stability and Future Needs
Truecaller has made it clear that, even after these dividend distributions, it will maintain a solid financial position. At year-end, they reported cash and investments amounting to approximately SEK 1,324 million, demonstrating substantial financial resilience. The total of the proposed dividends is estimated at just over SEK 580 million, reflecting the company's stable profitability.
Commitment to Shareholder Returns
The Chairman of the Board, Nami Zarringhalam, expressed the Board's continuous commitment to return capital to its shareholders through dividends and share buybacks. He emphasized that Truecaller’s strong financial position and robust cash flow facilitate funding for growth while also enabling profit distributions to shareholders.
Historical Shareholder Returns
If the dividend recommendation receives approval at the AGM, Truecaller will have returned over SEK 2.2 billion to its shareholders in buybacks and dividends since its initial public offering (IPO) in 2021. Such achievements underline the company’s dedication to enhancing shareholder value over time.
Annual General Meeting and Future Announcements
The complete notice and further proposals for the Annual General Meeting are scheduled to be published soon, providing shareholders with a comprehensive overview of the discussions and decisions to be made. The meeting is an essential platform for addressing shareholder interests and proposals for sustaining the company's growth and financial strategies.
About Truecaller
Truecaller (TRUE B) stands out as a prominent global platform focused on verifying contacts and reducing unwanted communication. This innovative platform assures safe and meaningful conversations, allowing businesses to connect efficiently with consumers. In a world where fraud and unsolicited communication remain prevalent, especially in emerging markets, Truecaller endeavors to foster trust in digital interactions. With over 450 million active users, it plays a vital role in everyday communication. Truecaller has been traded on Nasdaq Stockholm since October 2021.
Frequently Asked Questions
What is the proposed dividend amount for shareholders?
The proposed dividend amount is SEK 1.70 per share for the fiscal year.
What percentage of net profit will be distributed as dividends?
Truecaller aims to distribute 25% of the net profit as dividends to shareholders.
How much has Truecaller returned to shareholders since the IPO?
Truecaller has returned over SEK 2.2 billion to shareholders through dividends and buybacks since its IPO.
Who is the Chairman of the Board at Truecaller?
The Chairman of the Board at Truecaller is Nami Zarringhalam.
Where can one find more information about Truecaller?
For more information, shareholders can visit Truecaller’s corporate website.
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