INVL Baltic Farmland plans to pay shareholders dividends of EUR 775 000

INVL Baltic Farmland, a company that invests in agricultural land, proposes paying shareholders larger than usual dividends for 2021, allocating EUR 775,000 or EUR 0.24 per share. Decisions on this and other proposals will be made at the company’s general shareholders’ meeting to be held on 27 April 2022.

“The company’s good performance last year and an extremely successful sale transaction early this year that brought a gain of EUR 350,000 allow the company to pay bigger dividends than the EUR 0.10 per share amount envisaged in its dividend policy,” INVL Baltic Farmland’s Chairman of the Board Alvydas Banys says.

The dividends will be paid out within a month of the date the decision is adopted. Those investors who are shareholders of INVL Baltic Farmland at the end of business on 11 May 2022 will have the right to receive the dividends. Based on the 5 April 2022 share price, the dividend yield would be 3.43%.

The general shareholders’ meeting will also be asked to approve the election of the Board of INVL Baltic Farmland to consist of Alvydas Banys and Indrė Mišeikytė and the independent board member Tomas Bubinas.

Considering its existing rental agreements, in 2022 INVL Baltic Farmland plans revenue of EUR 718,000 and a consolidated net profit of EUR 646,000. The operating forecasts assume that during this year the value of the company’s land holdings will not change, there will be no purchases or sales of land aside from the sale transaction already concluded, and there will be no changes in provisions for receivables and no impact of tenant debts on the size of the administration fee.

INVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own nearly 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.