MHP plans to pay $30 mln in dividends over 2020 or $0.2803 per share
The Board of Directors of Myronivsky Hliboproduct agricultural holding (MHP) proposes to pay the same dividends over 2020 as over 2019 in the amount of $30 million or $0.2803 per share, the company said in its annual report said on Wednesday.
"Taking into account the current challenging market dynamics, and with a net debt to EBITDA ratio of 3.66 as at December 31, 2020 (above 3.0, beyond which certain restrictions become effective), the board felt it prudent to continue to conserve money and, subject to shareholder approval, to pay an unchanged dividend of $0.2803 per share," the company said in the document.
According to it, the payment is planned for April 2021.
The price of MHP shares on London Stock Exchange at the close on March 23 was $5.56 per share.
As reported, MHP ended 2020 with a net loss of $133 million compared to a net profit of $215 million in 2019 with a decrease in revenue by 7%, to $1.911 billion.
At the same time, in the fourth quarter of 2020, the company managed to reduce its loss in comparison with the fourth quarter of 2019 by 60%, to $24 million with a decrease in revenue by 10%, to $497 million.