LUG plans to pay dividend

Further positive information came from the Supervisory Board meeting, which on 9 May of this year accepted the proposition of the LUG S.A. Executive Board regarding the net income distribution. Accordingly an amount of 1,799,642.50 PLN will be purposed for the dividend payout, which is 1 cent of the dividend per one share.

- ”As a result of a very good financial standing of the Company, the Supervisory Board recommended dividend payout for shareholders, the first in the history of the Company. For the purpose of the dividend payout we want to allocate an amount of around 55% of the net consolidated income obtained in 2011. The Supervisory Board approved this proposition and the proposal of the Executive Board”- says Ryszard Wtorkowski.

The Executive Board proposed also the date of 28 September of 2012 to be the date of determination the right for the dividend, and dividend payout to be on 11 October of 2012.

- ”In the light of our dynamic growth and investment plans regarding launching new fixture designs and construction of the new plant, the dividend should be rewarding for shareholders. We receive a lot of positive feedback from investors, who appreciate that we kept our promises and that we are willing to distribute the income. On Wednesday (09.05.2012) the closing stock price of LUG share was 0.15 PLN what gave the dividend yield of 6.7%.” – says Ryszard Wtorkowski

Last year an average dividend yield at Warsaw Stock Exchange was around 3.7 %. In 2011 on the NewConnect market, an average dividend yield was around 3.8%. Yet payment of the dividend was declared by 16 companies only. The proposal of LUG S.A. Executive Board regarding payment of the dividend subjects to the approval of LUG S.A. General Shareholders Meeting, which will take place in June of 2012. Whereas on 15 May of 2012 the consolidated annual statement of the LUG S.A. Capital Group as of 2011 will be published.

- “At present we intensively introduce new design of out lighting fixtures, whose prototypes were presented in April during the biggest and most prestigious lighting industry trade fair Light+Building in Frankfurt am Main. Our new Flash DQ branded products and new LED fixtures were won recognition of many clients, and consequently we would like to finish the implementation process as quickly as possible to begin orders execution. Moreover at present we are focused on R&D, in particular on electronics. That is why the proposed dates were recognized as optimum” – explains Ryszard Wtorkowski.

The current reports concerning the net income distribution are available here