Jerónimo Martins approves dividends of 13,8 cents per share

The payment of the dividend to shareholders - 86,7 million euros - will take place on December 16.

Cristina Bernardo

Jerónimo Martins approved this Thursday, in an extraordinary general meeting, the distribution of over 86,7 million euros to shareholders, which means 13,8 cents per share.

“The distribution of free reserves in the amount of 86.723.922,36 euros was approved, equivalent to the gross dividend of 0,138 per share (excluding own shares in the portfolio). The payment of the dividend will take place on December 16, 2020, and the shares will be traded without right to the same two business days before that date, that is, on December 14 ”, says the owner of Pingo Doce to Securities Market Commission (CMVM).

When disclosing the first quarter's accounts, the retailer said that it had revised downwards its proposal to distribute dividends related to 2019 profits due to the global context of “high uncertainty” due to the Covid-19 pandemic.

“The board of directors decided to propose in the AG to be held on June 25, the distribution, for now, of dividends in the amount of 130,1 million euros, reviewing the distribution of 216,8 million euros announced on February 20, 2020 ”, he explained to Jerónimo Martins, in mid-May.

The proposal went from 34,5 cents per share to 20,7 cents per share - accommodating a 50% payout - so this amount (13,8 cents) corresponds to the difference that the company led by Pedro Soares dos Santos now intends to pay .

In the first nine months of the year, Jerónimo Martins had profits of 219 million euros, 17,8% less than in the same period last year, and EBITDA stood at 1.029 million euros (-1,9%). However, the group's sales increased 3,9% between January and September, to 14,2 billion euros.

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