General Assembly of satisfied and justified shareholders
The Annual General Meeting of the shareholders of Jumbo Group was held on Wednesday, November 8th, at the company’s premises. At the General Meeting participated 548 shareholders that represented the 84,21% of the company’s share capital.
The shareholders approved the management’s decision for the distribution of total dividend more than 1/3 of the Group’s earnings.
Specifically, the General Meeting approved the distribution of a dividend of EUR 48.981.513,24, which corresponds to EUR 0,36 (gross) per share (136.059.759 shares).
It is noted that the Group has already paid the amount of EUR 24.490.756,62 on 28.03.2017 with the form of an interim dividend. With the decision of the General Meeting, the Group will distribute the remaining amount of EUR 24.490.756,62 which corresponds to EUR 0,18/share (gross).
After the withholding tax of 15% the remaining dividend amounts to EUR 0,1530 per share.
The management informed the company’s shareholders that the current financial year recorded a dynamic start.
During the first quarter of the current financial year (July 2017-September 2017) sales increased approximately by +12% y-o-y.
Nevertheless the situation in Greece, regarding the consumers’ disposable income, is not demonstrating any signs of improvement, while it should also be taken into account that the second quarter, which includes Christmas Season, is the most important.
For the aforementioned reasons the management does not change the forecast in its budget, despite the optimistic start.
According to the Group’s budget for the current financial year, sales are expected to increase between 6%-9%, while the earnings are expected to remain at the same level as the ones of 2016/2017.
Regarding to the store roll out program, the management announced the opening of one more privately-owned hyper-store in Suceva (Romania), while two more stores are scheduled to operate by the end of the current financial year in Romania.
Regarding Greece, a store in Katerini is expected to operate by the end of the current financial year.
The shareholders approved the management’s decision for the distribution of total dividend more than 1/3 of the Group’s earnings.
Specifically, the General Meeting approved the distribution of a dividend of EUR 48.981.513,24, which corresponds to EUR 0,36 (gross) per share (136.059.759 shares).
It is noted that the Group has already paid the amount of EUR 24.490.756,62 on 28.03.2017 with the form of an interim dividend. With the decision of the General Meeting, the Group will distribute the remaining amount of EUR 24.490.756,62 which corresponds to EUR 0,18/share (gross).
After the withholding tax of 15% the remaining dividend amounts to EUR 0,1530 per share.
The management informed the company’s shareholders that the current financial year recorded a dynamic start.
During the first quarter of the current financial year (July 2017-September 2017) sales increased approximately by +12% y-o-y.
Nevertheless the situation in Greece, regarding the consumers’ disposable income, is not demonstrating any signs of improvement, while it should also be taken into account that the second quarter, which includes Christmas Season, is the most important.
For the aforementioned reasons the management does not change the forecast in its budget, despite the optimistic start.
According to the Group’s budget for the current financial year, sales are expected to increase between 6%-9%, while the earnings are expected to remain at the same level as the ones of 2016/2017.
Regarding to the store roll out program, the management announced the opening of one more privately-owned hyper-store in Suceva (Romania), while two more stores are scheduled to operate by the end of the current financial year in Romania.
Regarding Greece, a store in Katerini is expected to operate by the end of the current financial year.