Ekspress Grupp to make a proposal to pay almost 1.5 million euros in dividends
The Management Board of the media group AS Ekspress Grupp made a proposal to the shareholders to pay dividends of 5 euro cents per share, i.e. almost 1.5 million euros for the financial year of 2022.
According to the proposal of the Management Board of Ekspress Grupp, dividends shall be paid to all company shareholders who have been entered through the settlement system in the share register of Ekspress Grupp as of the end of the working day of 18 May 2023. The dividend payment ex-date shall be 17 May 2023. Dividends are expected to be paid out on 24 May 2023.
The proposal of the Management Board to pay dividends shall be approved by the ordinary general meeting of shareholders to be called on 4 May 2023.
According to the Chairman of the Management Board of Ekspress Grupp, Mari-Liis Rüütsalu, the Management Board has proceeded from the dividend policy approved previously, pursuant to which Ekspress Grupp will distribute at least 30% of its previous year’ profit as dividends under the condition that there will be sufficient funds to finance key operations and make new strategic investments. “Ekspress Grupp’s profitable operations over the last several financial years and its strong financial position make it possible to pay dividends in the amount of 1.5 million euros for the financial year of 2022, resulting in a dividend rate of about 37%. Additionally, Ekspress Grupp completed the share buyback at the beginning of March in the course of which the group purchased shares in the amount of 1 million euros,“ explained Rüütsalu.
The consolidated audited revenue of AS Ekspress Grupp for the 2022 financial year totalled 64.1 million euros which is 20% more than in 2021. The group’s consolidated audited net profit was 4.1 million euros. Digital revenue increased by 23% in a year and digital revenue contributed 78% to the group’s total revenue.
AS Ekspress Grupp is the leading media group in the Baltic States whose key activities include web media content production, and publishing of newspapers and magazines. The Group also manages the electronic ticket sales platform and ticket sales sites and provides an outdoor screen service in Estonia and Latvia. Ekspress Grupp launched its operations in 1989 and employs almost 1600 people.
Additional information
Mari-Liis Rüütsalu
AS Ekspress Grupp
Chairman of the Management Board
+372 512 2591
mariliis.ryytsalu@egrupp.ee