- The dividend will take place on May 8 and it will mean a return to the shareholder close to 3%
26 March 2015.- The board of Ence – Energía y Celulosa propose to the General Meeting of Shareholders to distribute a cash dividend of 10 cents per share in circulation.
The dividend will be paid in cash on 8 May 2015 by voluntary issue premium reserves for a gross amount of 25 million euros, if it is approved at the meeting which is expected to be held in 2nd call on 28 April.
The proposed dividend represents a return to shareholders of approximately 3%, whereas the share price of Ence at market close on the communication of the proposed distribution.
Therefore the right to the dividends at market close appear as holders of shares in Ence – Energía y Celulosa on 7 May 2015 in the accounting records of the participating entities Sociedad de Gestión de los Sistemas de Registro, Compensación y Liquidación de Valores, S.A. (IBERCLEAR). On gross amounts that are paid will be made, if necessary, legally applicable withholdings.
Ence has managed to successfully complete its restructuring plan, which will allow the company to overcome this year’s pre-reform power, profit a year ahead advertised. Significant savings achieved, the closure of its pulp mill in Huelva and the good performance of pulp prices and the dollar, are enabling a quick recovery from the impact of the electricity reform and will allow Ence achieve strong momentum their results.