Profil:
OT Logistics SAOT Logistics' management board recommends no dividend for 2024
The management board of Poland's largest port operator, listed group OT Logistics, recommends not paying a dividend from the 2024 profit and allocating it entirely to supplementary capital, OTL said in a market filing.
According to the market filing, the OT Logistics' management board, in making the decision to deviate from the dividend policy adopted in the strategy, was guided by the need to ensure the group's liquidity and capital necessary for further development of its operations and the implementation of its ongoing investments, despite the current unfavourable market trends in the market in which the group operates.
"The deviation from the dividend policy is incidental and the intention of the management board in subsequent years is to adhere to the dividend policy, but each time making a decision on dividend recommendation the company's management board will take into account the situation of the company and the company's capital group as well as the market environment," OT Logistics said in the market filing.
In 2024, the company paid a dividend of PLN 5.72 (EUR 1.34) per share.
OT Logistics posted PLN 58.2 million (EUR 13.6 mln) of EBITDA and a PLN 9.1 million (EUR 2.1 mln) net loss in 2024, against an EBITDA of PLN 191.6 million (EUR 44.8 mln) and a net profit of PLN 158.1 million (EUR 37 mln) in 2023.
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