PannErgy Will Not Pay a Dividend This Year

PannErgy Plc. will not pay a dividend this year, and the profit for 2024 will be transferred to the profit reserve, according to a resolution published on the website of the Budapest Stock Exchange (BSE) on Friday.

The general meeting approved the 2024 parent company income statement with a profit after tax of HUF 148 million and the 2024 group accounts, which show that the company closed the previous year with a profit of HUF 1.405 billion.

They also voted to reduce the company's share capital from HUF 360 million to HUF 320 million, with the aim of increasing other elements of its equity. The reduction of the share capital will be carried out by cancelling 2 million treasury shares held by the company and will not affect the shareholdings of the company's shareholders.

The General Meeting authorised the Board of Directors to purchase treasury shares for a maximum amount of HUF 1.5 billion at a maximum price of HUF 2,072 per share. The authorization is valid from Monday until 10 April 2026 and the shares may be acquired through stock exchange and over-the-counter transactions.