JUMBO is on steady course to become supranational company and market leader in Romania, Bulgaria and
The regular General Meeting of Jumbo was held today Wednesday, November 6th, 2019 with wide and active participation of the shareholders representing approximately 82,5% of the share capital.
Pleased customers, secure employees and satisfied shareholders constitute the balanced triangle of the JUMBO Group's strategic planning that exceeded market expectations for yet another year.
Shareholders approved the management's proposal for the new dividend increase policy by 20%. Specifically, the distribution of a total dividend of EUR 0,47 (gross) per share was approved, from EUR 0,39 of last year. The management repeated its intention to maintain the + 20% increase on the dividend that will be proposed for the fiscal year ending December 2019 and the fiscal year ending December 2020.
Responding to the new government's attempt to stimulate investment and growth strategies, the management, proposed to the General Meeting that the fiscal year should be matched to the calendar year so that the company does not fall behind other listed companies with respect to the newly announced development policy of the government.
This means that the financial year will begin in January of each year until December of the same year. Exceptionally for this year, the financial year that began in July will end on December 31, 2019.
The management also referred to the constant effort of the company to increase productivity and adapt to new market conditions during the General Meeting,
Key to this effort is to integrate new distribution centers into the supply chain over the next three years by applying the last minute delivery model.
In addition, the Group's investment plan for expanding its store’s network continues.
A new privately owned hyper-store will open in a few days in Brasov, in the dynamic market of Romania (approximately of 14.000 sqm).
By the end of December 2020, a new store will be added in Greece (approximately of 9.000 sqm) and a new hyper- store in Nicosia, Cyprus (approximately of 11.000 sqm).
A new privately owned store will open in Craiova, Romania (approximately of 12.000 sqm), while warehouse facilities and services for Romania’s e - jumbo will operate in the same complex (approximately of 33.000 sqm).
Pleased customers, secure employees and satisfied shareholders constitute the balanced triangle of the JUMBO Group's strategic planning that exceeded market expectations for yet another year.
Shareholders approved the management's proposal for the new dividend increase policy by 20%. Specifically, the distribution of a total dividend of EUR 0,47 (gross) per share was approved, from EUR 0,39 of last year. The management repeated its intention to maintain the + 20% increase on the dividend that will be proposed for the fiscal year ending December 2019 and the fiscal year ending December 2020.
Responding to the new government's attempt to stimulate investment and growth strategies, the management, proposed to the General Meeting that the fiscal year should be matched to the calendar year so that the company does not fall behind other listed companies with respect to the newly announced development policy of the government.
This means that the financial year will begin in January of each year until December of the same year. Exceptionally for this year, the financial year that began in July will end on December 31, 2019.
The management also referred to the constant effort of the company to increase productivity and adapt to new market conditions during the General Meeting,
Key to this effort is to integrate new distribution centers into the supply chain over the next three years by applying the last minute delivery model.
In addition, the Group's investment plan for expanding its store’s network continues.
A new privately owned hyper-store will open in a few days in Brasov, in the dynamic market of Romania (approximately of 14.000 sqm).
By the end of December 2020, a new store will be added in Greece (approximately of 9.000 sqm) and a new hyper- store in Nicosia, Cyprus (approximately of 11.000 sqm).
A new privately owned store will open in Craiova, Romania (approximately of 12.000 sqm), while warehouse facilities and services for Romania’s e - jumbo will operate in the same complex (approximately of 33.000 sqm).