The shareholders of JT Grup Oil, one of the most important private companies on the fuel distribution market and the sole shareholder of JT Terminal, approved during the Ordinary General Meeting of Shareholders on September 12, the distribution of 3,149,550 lei in the form of dividends from the profit cumulative undistributed recorded last year. The gross dividend is worth 0.11 lei/share.
October 10, 2024 was unanimously approved as the registration date and the ex-date October 9, 2024, for the identification of the shareholders who will benefit from other rights and on whom the effects of the AGEA decisions are reflected. Payment to eligible shareholders will be made starting on October 28.
“Approving the dividend distribution is an essential step in our strategy to reward shareholders for the support and trust they have placed in us over time. The decision to allocate part 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. We want this action to be a clear signal of the fact that our priority remains the creation of long-term value, in parallel with the development of the business horizontally and the strengthening of our position in the market. We remain committed to responsible corporate governance, focusing on maximizing shareholder value and strengthening our position in the industry,” says Steluța Lebidov, Chief Financial Officer, J.T. Grup Oil S.A.
Also in the convening meeting of the AGEA (Extraordinary General Meeting of Shareholders) and AGOA (Ordinary General Meeting of Shareholders) on September 12, the board of directors of JT Grup Oil S.A., a company listed on the AeRo market under the symbol JTG, approved the buyback program of to the Company of its own shares – up to 500,000 shares, respectively 1.75% of the share capital, with a nominal value of 1 leu/share at a minimum price equal to the BVB market price at the time of the purchase and a maximum price of 14 lei/share. They can be used in a Stock-Option-Plan type program for staff remuneration and loyalty.
It was also voted to authorize the board of directors to approve decisions by which the Board will be able to conclude legal acts in the name and on behalf of the Company, within the limit of a ceiling of 20,000,000 euros.
JT Grup Oil debuted on the AeRO market of the Bucharest Stock Exchange (BVB) under the stock symbol JTG, on August 6, following a public offer for the sale of shares through which the company managed to attract 19.9 million from investors lei. The anticipated capitalization of the company is 186.1 million lei.