The shareholders of PrJSC “Production Association “Stalkanat” (Odesa) intend to allocate UAH 60 million 511.837 thousand for dividends at the rate of UAH 0.58 per share from the profit for 2023.
This issue is included in the agenda of the general meeting of shareholders scheduled for April 18 this year, which is held remotely.
The draft decision specifies the dividend payment period – until October 31, 2024.
The payment will be made directly to shareholders’ accounts.
The shareholders will also summarize the company’s performance in 2023, in particular, they will hear the CEO’s report on the company’s financial and economic activities for the past year, determine the main areas of activity, and make decisions based on the results of the report. They will also consider the report of the Supervisory Board for 2023 and the auditor, and make decisions on them.
They will also decide on the distribution of the company’s profit for 2023. It is proposed to allocate UAH 60.5 million to dividends, and leave the rest of the profit undistributed. At the same time, the documents do not specify the amount of profit earned by the company in 2023.
As reported, the extraordinary general meeting of shareholders of PAO Stalkanat held on February 22, 2024, decided to conduct an additional issue of shares with a doubling of the company’s authorized capital. It is planned to place an additional 104 million 330,753 thousand ordinary registered shares with an existing par value of UAH 0.17 and increase the authorized capital from UAH 17 million 736 thousand 228.01 to UAH 35 million 472 thousand 456.02.
The placement of shares will be carried out in one stage from May 1 to May 31, 2024 inclusive (exclusively among persons who are shareholders as of February 22, 2024).
According to the official information of the company, 100% of the funds raised from the share issue in the amount of UAH 17 million 736.228 thousand will be used to repay the obligations under the loan agreement dated September 28, 2012 between PJSC “Stalkanat” and the First Ukrainian International Bank (FUIB).
The company’s information states that no dividends were accrued or paid in 2019, 2020, and 2021. According to the results of 2022, dividends in the amount of UAH 197 million 185.123 thousand were accrued and paid, excluding taxes, in the amount of UAH 1.89 per share. In 2023, dividends were accrued in the amount of UAH 105 million 374,060 thousand and paid out, net of taxes, in the amount of UAH 1.01 per share. Also, on February 22, 2024, the meeting decided to allocate UAH 60 million 511,837 thousand for dividends at the rate of UAH 0.58 per share. The dividend payment period is from March 20 to August 14, 2024.
“Stalkanat is one of the largest producers of steel ropes and reinforcing strands in Eastern Europe and a leader in the production of hardware products in Ukraine.
As of January 22, 2024, David Nemyrovsky holds a 50% stake, Anton Mikhalenko – 23.7%, Maria Kondratyuk – 23.1%, and Vitaly Dubovich – 3.199998%.
The authorized capital of Stalkanat currently amounts to UAH 17.736 million, with a share price of UAH 0.17.
