© D.R.
In a notice published by the Comissão do Mercado de Valores Mobiliários (CMVM), Sonae outlined its proposal to shareholders for the distribution of 2024 results. It intends to allocate 88.2 million euros for dividends and 4.6 million euros for the legal reserve.
The proposal also suggests distributing “free reserves amounting to 30,202,290.71 euros to the shareholders.”
Moreover, “the Board of Directors proposes that the gross dividend per share be 0.05921 euros, excluding from the total dividend of 118,420,000 euros the amount that would correspond to shares held by the company itself or its subsidiaries at the time of distribution, which should instead be allocated to free reserves.”
Sonae stated that the “proposed dividend represents a ‘dividend yield’ [which measures the profitability of dividends relative to the market price of shares] of 6.5% based on the closing price as of December 31, 2024.”
The General Meeting will also decide on the documents relating to the 2024 accounts, the general assessment of the company’s management and supervision, an amendment to the remuneration policy of the governing bodies, “as well as on the share allocation plan and its regulations,” and on the acquisition and disposal of own shares and bonds up to the legal limit of 10%.
Finally, shareholders will vote on the “acquisition and/or holding of shares representing the company’s share capital by its subsidiaries.”
