VRG will share the profit

VRG S.A. shareholders decided to pay a dividend of PLN 0.17 per share for 2021.

The annual general meeting of VRG S.A. decided to allocate PLN 39.8 million from the net profit made by the company in previous years to dividends, which means a payment of PLN 0.17 per share, the company said in a press release.

The decision of the general meeting to pay dividends is in accordance with the resolution adopted by the Board of Directors of VRG S.A. on May 20, 2022, and with the company's dividend policy. The dividend date, i.e. the date on which the list of shareholders entitled to dividends for 2021 is determined, is set for July 15, 2022. The dividend payment date was set for July 29, 2022.

- One of the Board of Directors' goals is to increase the investment attractiveness of VRG, and thus the value of our shares. The means to this end is to grow the business and share the profit generated by the Group with shareholders. The recommendation to pay a dividend and the publication of a dividend policy was one of our first joint decisions as a board. It is our manifesto defining how we want to manage the company in the years to come - says Janusz Płocica, CEO of VRG.

The decision to pay dividends is an implementation of the company's dividend policy, adopted by the VRG S.A. Board of Directors on May 18, 2022. It assumes annual recommendation of a payout in the range of 20-70 percent of consolidated net profit, assuming that the net debt/EBITDA ratio at the end of the fiscal year will be less than 2.5. Each time before making a recommendation to the general meeting, the Board of Directors will take into account the Group's financial position, investment needs, liquidity situation, growth prospects in a given market and macroeconomic situation, acquisition plans and bank covenants.

The last dividend payment by VRG S.A. (formerly Vistula Group S.A.), in the amount of PLN 0.74 per share, took place in 1999.