PORR AG Approves Higher Dividend and Stock Split
PORR AG's general meeting has resolved to increase the dividend for 2014 to EUR 1.50 per share and to implement a 1:2 stock split. The company aims to enhance liquidity and shareholder value.
Vienna, Austria – PORR AG's general meeting of shareholders, held on June 3, 2015, approved a significant increase in dividend payouts. Shareholders will receive EUR 1.50 per share for the 2014 fiscal year, a 50% rise from the EUR 1.00 dividend paid for 2013. The ex-dividend date was set for June 8, 2015, with payment on June 9, 2015.
In addition to the dividend, the meeting also resolved to split the company's shares at a ratio of 1:2. This will increase the total number of shares to 29,095,000 and is expected to improve the stock's liquidity and accessibility for smaller investors. The adjusted share price and new share count are anticipated to be reflected on the Vienna Stock Exchange by the end of June 2015.
"Today's general meeting has delivered two further important outcomes for PORR shareholders," stated Karl-Heinz Strauss, CEO of PORR AG. "The renewed 50% increase in dividend demonstrates that the PORR share has become an attractive dividend stock. And the approved stock split will contribute to liquidity. The PORR share will thus become easier to trade and therefore increasingly attractive to small investors."
PORR AG is a major European construction group, offering a comprehensive range of services across the entire construction value chain, from planning and execution to complex infrastructure projects.