INVL Baltic Farmland, a company investing in agricultural land, will pay EUR 387,000 in dividends to its shareholders for 2024, allocating EUR 0.12 per share. Shareholders received the same size dividends for 2023.
The dividend payment was approved during the Annual General Shareholders Meeting held on 14 April.
“Good operating results make it possible to pay shareholders larger dividends than those stipulated in the dividend policy again this year,” says Alvydas Banys, the Chairman of the Board of INVL Baltic Farmland.
The company’s Dividend Payment Policy envisages paying dividends of at least EUR 0.10 per share.
In 2024, INVL Baltic Farmland earned a net profit of EUR 1.836 million and had consolidated revenue of EUR 835,000. The company not only increased the value of its land holdings by 9.5% to EUR 22.736 million but also exceeded its financial targets for 2024 even after a performance fee and a larger tax burden.
At the shareholders’ meeting, a new term of office for the members of the company’s Audit Committee – Dangutė Pranckėnienė, Andrius Lenickas and Tomas Bubinas – was also approved.
To ensure that shareholders are able to sell shares, shareholders’ consent was obtained for using an existing EUR 3.08 million reserve for purchases of own shares. INVL Baltic Farmland could acquire own shares with a total nominal value of no more than 10% of its share capital. The maximum purchase price is the company’s most recently published equity per share while the minimum is EUR 3.50. The time limit for acquisitions of own shares is 18 months from the date of the decision by the shareholders’ meeting.
INVL Baltic Farmland is listed on the Nasdaq Vilnius stock exchange. Its subsidiaries own approximately 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers.
