Petrolina decided on Wednesday to pay a dividend of 6% (1.2 cents per share) to its shareholders, during the meeting, which approved the audited financial statements for 2005. The Board of Directors also set the date for the Annual General Meeting, which will take place on May 24.
Its net profits for 2005 stood at £5.4 million against £5.2 million in 2004, as announced in the indicative results.
“Our Company’s policy is to grant a dividend if its financial results allow it. The share of Petrolina returns to the shareholders 9.5% on the current value of the share and 5.5% on the IPO, which stood at 70 cents”, Petrolina Executive Director, Ntinos Lefkaritis told StockWatch.
“This means that if someone has £100 in the bank, the interest fluctuates between 2% and 3%. If he uses the £100 to buy shares of Petrolina, he will be returned a 5.5% (if the shares were bought in 2001) and 9.5% (if the shares were bought at the current price)”, Mr. Lefkaritis explained.
“The company is expected to have better results in 2006 since it staffed properly and has managed to restrain its expenses”, he concluded.
Its net profits for 2005 stood at £5.4 million against £5.2 million in 2004, as announced in the indicative results.
“Our Company’s policy is to grant a dividend if its financial results allow it. The share of Petrolina returns to the shareholders 9.5% on the current value of the share and 5.5% on the IPO, which stood at 70 cents”, Petrolina Executive Director, Ntinos Lefkaritis told StockWatch.
“This means that if someone has £100 in the bank, the interest fluctuates between 2% and 3%. If he uses the £100 to buy shares of Petrolina, he will be returned a 5.5% (if the shares were bought in 2001) and 9.5% (if the shares were bought at the current price)”, Mr. Lefkaritis explained.
“The company is expected to have better results in 2006 since it staffed properly and has managed to restrain its expenses”, he concluded.
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