INVL Baltic Farmland, a company that invests in agricultural land, will pay a dividend of EUR 0.15 per share for 2017, thus allocating a total of EUR 484 000 for dividends. The dividend per share is 2.14 times the amount paid for 2016.
The company’s dividend policy was also amended to increase the dividend per share envisaged in it from EUR 0.06 to EUR 0.10. These decisions were approved at INVL Baltic Farmland’s general meeting of shareholders which took place today.
The dividends will be paid within a 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 24 April.
The shareholders meeting also authorised INVL Baltic Farmland to buy back its own shares. The minimum share price is EUR 3 and the maximum is EUR 5. 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 at the end of 2017 was EUR 12 million. Equity per share was EUR 3.72 and, taking into account the dividends paid out during 2017, increased 8 per cent during the year.
According to the company’s published operating forecasts, which reflect the rental agreements that have been concluded, INVL Baltic Farmland plans during 2018 to receive EUR 609 000 of revenue and to earn a consolidated net profit of EUR 360 000. The forecasts assume that during 2018 the value of the company’s land holdings will not change and there will be no land purchase or sale transactions.
INVL Baltic Farmland is listed on the Nasdaq Vilnius exchange. Its subsidiaries own 3 000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
