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Mota-Engil will pay a dividend of 5,175 cents a share now, but it will pay an additional dividend in October

Mota-Engil will pay a dividend of 5,175 cents a share now, but it will pay an additional dividend in October

The Mota-Engil Board of Directors will propose to the Group’s annual general meeting the immediate distribution to shareholders of a dividend of 5,175 cents per share, subject to tax, in the global amount of €15,875,655.41, but acknowledges an additional dividend in the amount of 1,725 ​​cents per share, subject to For taxes, the global amount is 5291.885.14 euros, but only if at the end of the first half of 2022 it has achieved a profit higher than 10820.5 million euros.

The proposed dividend corresponds to a dividend of 6.75% compared to the closing price on Thursday, April 7.

In the report and individual accounts for the last year, Mota-Engil adds that the Board of Directors will propose to the AG to cover negative retained earnings in the amount of €28,100,076.99, by transferring the “other reserves” line item and the distribution of net income for the year, in the amount of €42,340,980.16, which It already includes the amount of 500 thousand euros and 250 thousand euros allocated to the distribution of profits, respectively, by the board of directors and employees.

The group intends to provide more than 15.8 million euros to shareholders, noting in the document that if this proposal is approved to apply the dividend, it will propose in second place an additional dividend for the year to the shareholders of nearly 5.3 million.

However, it notes that “this additional distribution is subject to the condition that the consolidated net profit attributable to the group, which will be ascertained at the end of the first half of 2022, is greater than 50% of the consolidated net profit attributable to the group achieved in 2021 i.e. more than 10820.5 thousand euros.

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“If the above condition is verified in light of the consolidated semi-annual accounts, the effects of the deliberations taking place on October 1, 2022 will be produced,” she says.

If this condition is not satisfied, Mota-Engil states that the amount of profit for the year in question will remain, once the condition is not met, in the title of free reserves, not subject to any distribution to shareholders.

FM – Sociedade de Controlo, SGPS, of the Mota family, owns 40.03% of the share capital, China Communications Construction Group (CCCC) 32.41% and Mutima Capital Management 2.11%.46% of the share capital.