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Grupa Pracuj SAGrupa Pracuj with no intentions of changes to dividend policy, despite acquisition plans
Listed HR group Grupa Pracuj, despite its acquisition plans, does not want to change its dividend policy, company representatives told a video conference following the publication of the first quarter's financial results.
"The fact that we are planning acquisitions does not mean that we plan to change our dividend policy of paying out at least 50 percent of net profit," said the board member and CFO Gracjan Fiedorowicz.
He added that share buybacks, for example, were also a possibility.
"The dividend policy may temporarily change, but we will try to balance this in the following years," Fiedorowicz said.
In its strategy published on Tuesday, Grupa Pracuj said that organic growth is to be complemented by selective acquisitions, focusing primarily on the HR Software area.
The group's management board has recommended to the shareholders paying a dividend of PLN 2.10 (EUR 0.49) per share from the 2024 profit.
A total of PLN 143.4 million (EUR 33.7 mln) may go to dividends, while, as stated, the amount earmarked for dividends may rise to a maximum of PLN 145.5 million (EUR 34.2 mln), as a result of the management board's planned issue of new D-series ordinary bearer shares in a number not exceeding 1,031,047, under the authorisation granted pursuant to the extraordinary general meeting's resolution, with the unchanged amount of the recommended dividend per share.
In 2024, Grupa Pracuj allocated PLN 136.5 million (EUR 32.1 mln) from the profit generated in 2023 to the payment of dividends, which translated into a dividend of PLN 2 (EUR 0.47) per share.
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