The shareholders of J.T. Grup Oil S.A., a private company on the fuel distribution market and the only shareholder of JT Terminal, approved during the Ordinary General Meeting of Shareholders on September 12, the distribution of 3,149,550 RON as dividends from the accumulated retained profit recorded last year. The gross dividend is 0,11 RON/share.
It was unanimously approved October 10 as the registration date and October 9 as the ex-date for the selection of shareholders who are intended to benefit from other rights and on whom the effects of the AGEA’s resolutions will be passed. Payment to eligible shareholders will be made as of October 28.
“The approval of the dividend distribution is an essential step in our strategy to reward our shareholders for the support and confidence they have shown us over the years. The decision to allocate a portion of the retained earnings reflects not only the financial stability of J.T. Grup Oil S.A., but also our commitment to maintain a balanced dividend policy. This action is a clear signal that our priority remains long-term value creation, in parallel with the development of the business horizontally and the strengthening of our market position. We remain committed to responsible corporate governance, focusing on maximizing shareholder value and strengthening our position in the industry.” points out Steluța Lebidov, CFO, J.T. Grup Oil S.A.
Also during the meeting of the Extraordinary General Meeting of Shareholders (AGEA) and the Ordinary General Meeting of Shareholders (AGOA) of September 12, the Board of Directors of JT Grup Oil S.A., a company listed on the AeRo market under the JTG symbol, approved the Company’s program for the repurchase of its own shares, up to 500,000 shares, representing 1.75% of the share capital, with a par value of 1 RON/share at a minimum price equal to the market price on the BVB at the time of the purchase and a maximum price of 14 RON/share. They can be used in a Stock-Option-Plan type program for the remuneration and retention of team.
It was also voted to authorize the Board of Directors to approve the decisions by which the Board will be able to conclude legal acts in the name and on behalf of the Company, up to a limit of 20,000,000 euro.
JT Grup Oil, listed on the AeRO market of the Bucharest Stock Exchange (BVB), under the stock exchange symbol JTG, on August 6, following a public offering of shares through which the company managed to attract 19.9 million lei from investors. The anticipated capitalization of the company was 186.1 million lei.