INVL Baltic Farmland, a company that invests in agricultural land, will pay dividends of EUR 226 000 for 2016, or EUR 0.07 per share. The dividend per share is 6 per cent more than that paid for 2015. The decision was approved at the annual general meeting of shareholders of INVL Baltic Farmland held on 22 March.
The dividends will be paid out within one month of the shareholders’ decision. Those investors will be eligible to receive them who are shareholders of INVL Baltic Farmland at the end of business on 5 April.
Also by decision of the general meeting of shareholders, the following persons were elected to the audit committee of INVL Baltic Farmland for a four-year term as independent members: Tomas Bubinas, who is Chief Operating Officer at Biotechpharma UAB, and Danguolė Pranckėnienė, an auditor and partner at Moore Stephens Vilnius UAB.
During the meeting, INVL Baltic Farmland was also authorised to buy back its own shares. The minimum share price is EUR 3.16 and the maximum is EUR 4.50. The period during which the company may acquire its own shares is one and a half years from the date of the decision.
INVL Baltic Farmland’s equity capital at the end of 2016 was EUR 11.34 million, or EUR 3.51 per share. Based on the rental agreements in effect, INVL Baltic Farmland plans in 2017 to earn revenue of EUR 575 000 and a consolidated net profit of EUR 350 000. The forecasts are based on an assumption that the value of the company’s land holdings will not change during 2017 and there will be no land purchase or sale transactions.
INVL Baltic Farmland is listed on the Nasdaq Vilnius exchange. Its subsidiaries manage 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
