INVL Baltic Farmland, a company that invests in agricultural land, will allocate EUR 217 thousand to dividends, or EUR 0.066 per share. The dividends are 10 per cent larger than those paid in 2015. A general meeting of the company's shareholders approved the decision today.
Investors who are shareholders of INVL Baltic Farmland at the end of business on 11 April will be eligible to receive the dividends, which will be paid out within 30 days of the shareholders' decision.
INVL Baltic Farmland this year plans to receive EUR 530 thousand of rental income and to earn a net profit of EUR 300 thousand. The forecasts are based on an assessment of rental agreements currently in force as well as the assumption that the value of the company's land holdings will not change and there will be no land-sale transactions.
In 2015, INVL Baltic Farmland had revenue of EUR 460 thousand and an audited net profit of EUR 838 thousand.
INVL Baltic Farmland is listed on the NASDAQ Vilnius exchange. Its subsidiaries manage 3,000 hectares of agricultural land in Lithuania which is rented out to agriculture companies and farmers. INVL Baltic Farmland's equity capital at the end of 2015 was EUR 10.57 million, or EUR 3.21 per share. INVL Baltic Farmland's dividend policy stipulates that dividend payments to shareholders should be no less than EUR 0.06 per share.