INVL Baltic Farmland, a company that invests in agricultural land, will pay dividends for 2018 of EUR 0.10 per share, thus allocating a total of EUR 323 000 for dividends. That decision was approved today at an ordinary general meeting of INVL Baltic Farmland shareholders. The dividends will be paid out within a month of the shareholders’ decision. Investors will be eligible to receive them who are shareholders of INVL Baltic Farmland at the end of business on 5 April.
The company’s audited operating results for 2018 were also approved at the shareholders meeting, as was permission for INVL Baltic Farmland to buy back its own shares. The minimum share price is EUR 3 and the maximum is EUR 5. The decision to allow the company to acquire its own shares will remain in effect for 18 months from the date of its adoption.
Based on the company’s published operating forecasts, taking into account the rental agreements that have been concluded, INVL Baltic Farmland plans this year to receive EUR 650 000 of revenue and to earn a consolidated net profit of EUR 395 000. The forecasts assume that during 2019 the value of the company’s land holdings will not change, there will be no land purchase or sale transactions, and there will be no changes in provisions for receivable amounts.
In 2018, INVL Baltic Farmland had revenue of EUR 615 000 and a net profit of EUR 1.113 million. Compared to 2017, the company’s revenue grew 7% while its net profit increased 25.8%. INVL Baltic Farmland’s equity at the end of 2018 was EUR 12.63 million, or EUR 3.91 per share. Equity per share increased 9.1% from a year earlier, also taking into account dividends that were paid during 2018.
INVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
