Regarding approval of dividend allocation of INVL Baltic Farmland for the year 2021 and election of the Board
The Annual General Shareholders Meeting of the public joint stock company INVL Baltic Farmland (hereinafter – “the Company“) held on 27 April 2022 approved to allocate a dividend of EUR 0.24 per share for the year 2021 (the total amount allocated for dividends is EUR 775 thousand).
The Board of the Company notes that the Dividend Payment Policy of the Company was approved during the Annual General Shareholders Meeting held on 10 April 2018, targeting at least EUR 0.10 per share dividend.
The Company notes that dividends will be paid out and dividend payment procedure for 2021 published within one month from the General Shareholders Meeting that approved the decision to allocate the dividends. Persons, who will be shareholders of INVL Baltic Farmland at the end of 11 May 2022, the tenth day after the General Shareholders Meeting approving the resolution to allocate part of Company’s profit for the payment of dividends, are entitled to receive dividends.
The ex-date is 10 May 2022. From that date the new owner of the shares of INVL Baltic Farmland, ISIN code LT0000128753, which were acquired on stock exchange with settlement cycle of T+2, is not entitled to receive dividends for the year 2021.
The Annual General Shareholders Meeting also elected the Board of INVL Baltic Farmland, consisting of Alvydas Banys and Indrė Mišeikytė and the independent board member Tomas Bubinas.
INVL Baltic Farmland, a company that invests in agricultural land, will pay shareholders larger than usual dividends for 2021, allocating EUR 775,000 or EUR 0.24 per share. Decisions on this and other proposals were adopted at the company’s general shareholders’ meeting held today.
“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 was 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 3.12%.
The general shareholders’ meeting also elected the board of INVL Baltic Farmland, consisting of Alvydas Banys and Indrė Mišeikytė and the independent board member Tomas Bubinas.
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.
The person authorized to provide additional information:
Director Egle Surpliene