Navigator pays an early dividend of 7.03 cents at the end of the month – Dividend

Navigator’s board of directors announced that it decided, at a meeting on Thursday, to make an advance payment to shareholders for 2021 earnings, to be realized by the end of the year.

This €4,999,6169.75 advance equates to a total value of €0.0703 per share, according to the company led by Antonio Redondo. in the statement Detected with CMVM.

The decision was made taking into consideration the company’s performance throughout 2021.

Navigator’s profit rose 52% in the first nine months of the year, compared to the same period in 2020, to 114 million euros.

In the same period, the pulp and paper producer increased its sales to nearly 1,120 million euros.

For the fourth quarter, the company acknowledged “strong cost pressures” due to higher prices for various raw materials.

In May of this year, Navigator distributed a dividend of 14 cents, at the expense of its 2020 results. The company has been accustomed to giving shareholders generous dividends, usually paying higher amounts than the dividends received. This year was different (due to covid), as the pulp and paper company cut pay by 50%, bringing the “compensation” below 100%.

However, the company continued to be part of a lot of nationally listed companies with “dividends” equal to or greater than 5%. In addition, Navigator also used to pay shareholders out of the regular season through the distribution of reserves.

The paper company’s share closed today’s session, up 0.25% to 3.2640 euros.

This early dividend of €0.0703 corresponds to a return of 2.15%, considering the price Navigator closed on Thursday.

(updated news)