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23.12.2024 11:15:00
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AFARAK GROUP SE’S DIVIDEND POLICY
10:15 London, 12:15 Helsinki, 23 December 2024 - Afarak Group SE ("Afarak" or "the Company") (LSE: AFRK, NASDAQ: AFAGR)
AFARAK GROUP SE’S DIVIDEND POLICY
Afarak’s Board of Directors has decided on Company's dividend policy.
The dividend policy: The purpose of the dividend policy is to set the framework for the distribution of dividends by the Company to ensure an attractive and consistent return on investment for the Company’s shareholders. The Company shall distribute to its shareholders in the form of a dividend or a capital redemption all funds surplus to the operating and development needs of the Company as determined by the Board of Directors. The target dividend payout ratio in respect to each financial year shall be minimum 10% (ten percent) of the Afarak Group's EBITDA per full year. The dividend policy in its entirety is attached.
The decision on Company’s dividend policy is connected to the release to be published later today relating to Afarak’s Board of Directors’ decision to convene Company’s Extraordinary General Meeting to decide on reduction of Company’s share capital and reduction of Company’s share premium reserve.
The Extraordinary General Meeting is the first step in the process of aiming to enable the transfer of funds into Company’s unrestricted equity leading to a more flexible capital structure and thus enable more efficient use of the Company's funds.
IN HELSINKI, ON 23 DECEMBER 2024
AFARAK GROUP SE
Guy Konsbruck
CEO
For additional information, please contact:
Guy Konsbruck, CEO, +356 2122 1566, guy.konsbruck@afarak.com
Financial reports and other investor information are available on the Company's website: www.afarak.com.
Afarak Group is a specialist alloy producer focused on delivering sustainable growth with a Speciality Alloys business in southern Europe and a FerroAlloys business in South Africa. The Company is listed on Nasdaq Helsinki (AFAGR) and the Main Market of the London Stock Exchange (AFRK).
Distribution:
NASDAQ Helsinki
London Stock Exchange
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