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Last year, Infortar's assets saw significant growth, reaching 1.46 billion euros. In light of this achievement, the company's board has decided to offer its shareholders a dividend of 3 euros per share for the 2023 fiscal results. Such a dividend payment refers to an approximate dividend yield of 11 percent, which is the highest on the Tallinn Stock Exchange this year.
The company's management emphasized the record financial results as an opportunity to continue investing in major projects and proposed to pay the largest dividend sum in the history of the Tallinn Stock Exchange to more than 5200 shareholders. The dividends are planned to be paid out in two installments: June and December 2024.
Last fiscal year, the company's net profit reached 293.8 million euros, compared to 96.1 million euros the previous year. The Chairman of the Board, Ain Hanschmidt, commented that all three areas of the company's operations achieved exceptional results. A significant contribution to the profit was made by the acquisition of the Latvian gas distribution network Gaso and the revaluation of real estate. The operating profit grew compared to the previous fiscal year, reaching 123.6 million euros.
The company's sales revenue increased by 30.9 million euros compared to the previous year, achieving 1.08 billion euros. This was primarily aided by an increase in the market share of gas sales in the region to 25 percent. Additionally, Infortar increased its stake in the shipping company Tallink Grupp, which now constitutes 42.33 percent.
Infortar plans to pay dividends on a total of 20,221,239 shares, making the total sum of dividend payments approximately 61 million euros.
