CENIT AG Proposes Dividend of EUR 0.04 Per Share, Adjusting Previous Policy

CENIT AG announced its decision to propose a dividend of EUR 0.04 per share for the 2023 financial year, diverging from its former dividend strategy. This proposal will be presented at the 2024 Annual General Meeting. The dividend is to be distributed from a net profit of EUR 7,014,781.41, with the balance, EUR 6,680,071.09, carried forward.

This adjustment is in line with the company's strategic planning for capital needed to support future growth and acquisition initiatives. Despite the shift in dividend policy for the current year, CENIT AG's Management Board intends to resume a dividend payout ratio of 50% of balance sheet profit in the medium term, assuming this aligns with their financial strategy and the goal of sustaining a healthy credit rating. Additionally, CENIT AG is set to release its annual financial report for the 2023 fiscal year on April 4, 2024.