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Logista’s General Meeting of Shareholders approves a €0.77 per share final dividend

26/03/2019

  • It will be paid on March 29th adding to the €0.35 per share interim dividend already distributed
  • The Chairman highlights that “Logista completed a very positive fiscal year 2018. It obtained a significant improvement in results, increased the soundness of its balance sheet, strengthened its environmental sustainability and raised the remuneration to the shareholder”.
  • The Chief Executive Officer, Luis Egido, emphasized that “Logista is transforming the model of distribution to specialized retail networks via an integrated collaboration of all operators” and that “the total return to shareholders is an annual average 14.6% since the IPO”.
  • Egido underlined that with the dividend approved today and the share revaluation since the IPO “shareholders have almost recovered the investment made less than 5 years ago”.
Logista’s General Meeting of Shareholders approved today distributing a €0.77 per share final dividend to be indebted to the fiscal year 2018 results, complementary to the €0.35 per share interim dividend already distributed last August.

Accordingly, the total dividend to be indebted to the fiscal year 2018 results rises to €1.12 per share, a 6.7% higher than the total dividend indebted to the previous fiscal year, and maintains the policy of remunerating shareholders distributing as dividends (“pay out”) at least 90% of the company’s Net Consolidated Profit.

Logista’s shareholders also approved the Annual Accounts for the fiscal year, again co-audited by two audit firms, which ended with a 1.8% increase in the Net Profit to €156.7m.

Gregorio Marañón y Bertrán de Lis, Chairman of Logista’s Board of Directors, said in his speech to the shareholders that “Logista completed a very positive fiscal year 2018. It obtained a significant improvement in results, increased the soundness of its balance sheet, strengthened its environmental sustainability and raised the remuneration to the shareholder. In short, the company reinforced its position as the leader in the distribution of products and services to proximity retailers in Southern Europe”.

After emphasizing “Logista’s right positioning as comprehensive distribution company in the supply chain, from the manufacturer to the point of sale and the end consumer”, Marañón added that Logista’s business model “is a differential proposal creating value for manufacturers and points of sale, as Logista adds quality and efficiency to the whole value chain, achieving higher sales and better profitability for all of them”, and assured that “This business model also creates value for Logista, as it takes advantage of synergies in distributing an array of products and contributes to reinforce our strategic positioning in proximity channels”. 

Luis Egido, Logista’s Chief Executive Officer, highlighted in his speech that “Logista is transforming the model of distribution to specialized channels of retailers, by facilitating manufacturers and retailers a simple, effective and modern omnichannel approach for the widest range of products and services adapted to the point of sale and its end consumer. And we are doing it via an integrated collaboration of all operators”.

Also, Egido announced that “Logista already offers traceability at product unit level for pharmaceuticals, complying with EU traceability requirements, adding in this case real time thermal traceability”.

Egido underlined “The compliance with EU requirements for tobacco products traceability at product unit level, at each tobacco package level, which implies having all the information throughout the distribution supply chain, from manufacturing to its delivery at the point of sale, of each of the 7.5 billion tobacco packages we distribute every year”.

Logista’s Chief Executive Officer also emphasized that with the dividend approved today, the company has paid €4.37 per share in dividends and, as of yesterday, the share has risen by €8.06 since the Initial Public Offering in July of 2014 at a €13 per share price, so “shareholders have almost recovered the investment made less than 5 years ago and the total return to the shareholder has reached an annual average of 14.6% since the IPO”.

Egido finished anticipating that the growth perspectives have been improving during the fiscal year, so “Pending on the completion of the first half on March 31st, our outlook for this fiscal year 2019 is improving the growth perspectives announced last December and, of course, exceeding current market expectations”.
 


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