Aspo’s Board of Directors drives the company’s strategic growth and shareholders’ long-term value creation and decided not to make an additional distribution of funds to shareholders in 2024
Aspo Plc
Stock Exchange Release
October 29, 2024, at 8.00 am
Aspo’s Board of Directors drives the company’s strategic growth and shareholders’ long-term value creation and decided not to make an additional distribution of funds to shareholders in 2024
Aspo has gone through a major transformation during the past three years. In practice the transformation includes a full exit from Russia and in parallel major growth investments in west, fully compensating for the lost revenue and profitability in east. As a reflection of this major transformation, the reported earnings per share (EPS) in 2023 was EUR -0.01 per share and the comparable EPS in 2023 was EUR 0.46 per share.
The Annual General Meeting (AGM) held on April 12, 2024, approved a dividend distribution of EUR 0.24 per share and the dividend was paid on April 23, 2024. Furthermore, the AGM authorized the Board of Directors to decide on a possible distribution of capital from the invested unrestricted equity fund in the maximum amount of EUR 0.23 per share on a later date, if aligned with the growth strategy and considering the long-term benefit of Aspo’s shareholders. The authorization is valid until the next AGM.
As communicated on May 14, 2024, Aspo’s dividend policy has been updated to reflect the company strategy and growth ambition, the ongoing transition and specific business characteristics. According to the revised dividend policy Aspo’s dividend growth is based on positive profitability development with the aim to pay-out annually up to 50% of net profit as dividend. The goal is to gradually increase the amount of dividends, while considering financing needs of growth initiatives with strategic priority.
The execution of Aspo’s portfolio strategy has meaningfully moved forward in 2024. The acquisition of Swed Handling AB, and ESL Shipping’s decision to invest in four green handy vessels represent the latest major investments.
Considering Aspo’s revised dividend policy, and in order to drive the strategic growth and shareholders’ long-term value creation, Aspo’s Board of Directors has decided in its meeting on October 29, 2024, that the authorization of the Annual General Meeting to distribute funds from the invested unrestricted equity fund will not be used. Therefore, the distribution for the year 2023 will remain at EUR 0.24 per share which was paid in April 2024.
Aspo Plc
Rolf Jansson
CEO
Further information, please contact:
Rolf Jansson, CEO, tel. +358 40 0600 264, rolf.jansson@aspo.com
Distribution:
Nasdaq Helsinki
Key Media
www.aspo.com
Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders in their sectors. They are responsible for their own operations, customer relationships and the development of these aiming to be forerunners in sustainability. Aspo supports its businesses profitability and growth with the right capabilities. Aspo Group has businesses in 17 different countries, and it employs approximately 800 professionals.
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