The major furniture manufacturing company in Lithuania Vilniaus baldai AB intends to allocate 38.863 million litas (€11.255 million) or 10 litas (€2.9) per share for dividends. 15.545 million litas (€4.502 million) or 4 litas (€1.16) per share was allocated for dividends in 2011.
This proposal will be put forward in the General Shareholders’ Meeting on April 27, 2012 by the Board.
“Due to the reason that Vilniaus baldai AB is a profitable debt free company, we propose to allocate this amount for dividends”, – said Vytautas Bucas, the chairman of the Board.
New members of the Board of Vilniaus baldai AB will be re-elected of current Board members for a new 4 year period. Vytautas Bucas, Darius Sulnis and Dalius Kaziunas are the Board members at the moment.
In 2011 Vilniaus baldai AB increased its revenues 21 percent up to 238.4 million litas (€69.04 million) but net profit decreased 3.8 percent up to 26.8 million litas (€7.76 million) according to audited report. Vilniaus baldai AB exports and sells almost all its production to Swedish company Ikea.
Invalda AB is a majority shareholder of Vilniaus baldai AB. Shares of Vilniaus baldai AB are admitted to trading in NASDAQ OMX Vilnius Main list.
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Aidas Mackevičius
The general director of Vilniaus baldai AB
Tel. No. (8-5) 2525700