Shareholders of Ronson Development have approved a dividend payout and the relocation of the company’s registered office to Poland
Ronson Development’s General Meeting agreed with the Management Board’s recommendation and decided to make a dividend payout of PLN 0.06 per share, i.e. a total of PLN 9.84 million. Moreover, the shareholders approved the relocation of Ronson Development’s registered office from the Netherlands to Poland.
The dividend adopted by Friday’s Extraordinary General Meeting is in line with the recommendation given by the Management Board of Ronson Development that was subsequently approved by the Supervisory Board. The dividend record date is 25 September 2018 and the dividend payout date is 4 October 2018. The dividend will be paid from the retained earnings reserve. The divident yield is roughly 5.2% considering the Company’s current share price (PLN 1.15 at the end of the session held on 13 September 2018).
“Ronson Development’s financial standing is sound; that is why we want to continue our practice of sharing the earnings we generate with our shareholders. In addition to common dividend policies adopted by other developers, we have decided to introduce a minimum annual dividend of ca. PLN 10 million. At the current number of outstanding shares, that means a minimum dividend per share of PLN 0.06”, said Nir Netzer, CEO of Ronson Development.
The General Meeting also approved the relocation of Ronson Development’s registered office from the Netherlands to Poland and the ensuing amendments to the Company’s articles of association. At earlier stage in the migration process the company was transformed into a societas europaea, and its name was changed from Ronson Europe N.V. to Ronson Development SE.
“Relocating the registered office to Poland is a natural step for Ronson. From the outset all our operating activity is focused on the Polish market – it is here that we are conducting all our projects, and our company’s shares are publicly traded on the Warsaw Stock Exchange. Finalizing the relocation will make it possible to reduce bureaucracy and cut administrative expenses. For our shareholders this also means easier direct access to general meetings which, after the migration, will take place in Warsaw, instead of in Rotterdam, which has been the case till now”, pointed out Rami Geris, Management Board member and CFO of Ronson Development.