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Back to list Renta Corporación ups its total dividend by over 40%

Renta Corporación ups its total dividend by over 40%

• The dividend will be €0.57 per share

• The proposal will be submitted to the AGM for approval

Renta Corporación’s General Meeting of Shareholders (AGM) will be held in Barcelona on 29 March.

One item on the agenda is the approval of the accounts by the Meeting, including a proposed dividend payout to shareholders of over €14.2 million, 41.3% up on last year. This involves paying a dividend of €0.57 per share, or 30% of the net consolidated profit attributable to shareholders.

Such a high level of profit distribution is especially noteworthy in a company such as Renta Corporación, which is experiencing a very strong rate of growth. The 2006 results, together with the business outlook for the next few financial years confirms that payouts to shareholders are compatible with strong growth.

The dividend payment will be made from 12 April, following the regulatory announcement.

Renta Corporación became a publicly listed compnay on 5 abril 2006, at an initial price of €29 per share. Between then and the end of the financial year, the company’s shares were revalued by 17.8%, with a price of €34.13 per share on 31 December 2006. The stock closed yesterday at €35.86 per share, a 23,7% revaluation since Stock Exchange listing.

The 2006 results presented by the company reflect strong growth in all the figures. For example, Net Profit was €47.5 million, 46% up on 2005 and exceeding the company’s forecasts. Revenues were 84% up at €600 million, with investments of €864 million.

One of the most relevant figures is the level of inventory and investment rights in the company’s assets, since these contribute decisively to the company’s profit-generating profile for subsequent periods. At close of 2006, the volume of inventory and investment rights stood at €1,096 million, which is in line with the forecast in the Strategic Plan of exceeding €75 million net profit in 2008.

Among other resolutions, the agenda also includes proposals to authorise the Board of Directors to increase the share capital up to half the current value, and to issue bonds, debentures and other fixed income stocks up to a value of €100 million, to appoint César Bardají and Enric Venancio as Exectuvie Directors, as well as various modifications of the Articles of Association and Regulations to adapt them to the latest recommendations of the Unified Good Governance Code.

Barcelona, 6 march 2007

 



For more information:
www.rentacorporacion.com

María Cura / Tina Díaz. Telf +34 93 217 22 17
adiaz@llorenteycuenca.com