JT Grup Oil (BVB: JTG), a company involved in petroleum product distribution and port operations (it is developing a EUR 25 mln terminal in Constanta port), announced its shareholders approved the distribution of RON 3.15 mln (EUR 0.63 mln) dividend from the accumulated retained profit recorded last year.<\/p>\n
The company also announced it is buying back 1.75% of its shares \u201cto be used in a Stock-Option-Plan type program for the remuneration and retention of the team.\u201d The move takes place several months after the 12.7% IPO this summer.<\/p>\n
It was also voted to authorize the Board of Directors to approve the decisions by which the Board will be able to conclude legal acts in the name and on behalf of the company, up to a limit of EUR 20 mln \u2013 some 85% of the company\u2019s market capitalization.<\/p>\n
The company\u2019s turnover dropped by one quarter to EUR 45 mln in 2023 from EUR 60 mln in 2022, while the net profit edged down marginally to EUR 1.15 mln from EUR 1.27 mln. The dividend payout ratio is thus some 50%.<\/p>\n
JT Grup\u2019s market capitalization is RON 120 mln (EUR 24 mln), which results in a dividend yield of 2.64%.<\/p>\n
The company\u2019s shares were listed at Bucharest Exchange in early August, a couple of months after the partly successful IPO that brought it EUR 4 mln in exchange for a 12.7% stake given to the new shareholders.<\/p>\n
iulian@romania-insider.com<\/em><\/p>\n (Photo source: the company)<\/em><\/p>","protected":false},"excerpt":{"rendered":" JT Grup Oil (BVB: JTG), a company involved in petroleum product distribution and port operations (it is developing a EUR 25 mln terminal in Constanta port), announced its shareholders approved the distribution of RON 3.15 mln (EUR 0.63 mln) dividend from the accumulated retained profit recorded last year. The company also announced it is buying […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1661","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/1661","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1661"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/1661\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1661"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1661"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1661"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}