Tallink amends Group's dividend policy and intends to reduce the company’s share capital
The Management Board of Tallink Grupp today adopted a decision to supplement the Group’s dividend policy. With the decision the Group’s dividend strategy foresees the payment of dividends in the amount of 0.05 EUR per share going forward, the company’s financial results permitting.
Tallink Grupp last amended its dividend policy in May this year, announcing in its 2018 first quarter report that it will increase its minimum dividend from 2019 from the current 0.02 EUR to 0.03 EUR.
In addition to the amendments being made to the Group’s dividend policy yesterday, the Group’s Supervisory Board yesterday additionally gave the Group’s Management Board the instruction to prepare a proposal for the 2019 general shareholders’ meeting to reduce the company’s share capital by at least 7 cents per share. The aim of the reduction is to improve the company’s capital structure.
Commenting on the decisions, Tallink Grupp’s CEO Paavo Nõgene said:
„The decisions made by Tallink Grupp’s Supervisory Board and Management Board are both good news for our shareholders. Tallink wants to offer a good dividend yield and long-term security for both its current and future shareholders. Our message to those who already own Tallink Grupp shares on the Tallinn Stock Exchange and to those who will soon be able to acquire Tallink Grupp shares on the Helsinki Stock Exchange, is clear – Tallink is the right choice and it is definitely worth investing in Tallink.“