This morning, the Azkoyen General Meeting approved the
splitting of the company's shares (two new shares for
every current share, which will take place in August)
and the payment of a supplementary dividend of 40 pesetas
gross, which will be made on 10 July. With this supplementary
amount, the dividend for 1998 will be 70 pesetas gross,
the same as in 1997.
The shareholders, following a proposal from the Board
of Directors, agreed that the company's share capital
should be redenominated to euros, setting the current
value of the shares (200 pesetas) at 1.20 euros and
then to make the split of two new shares for each current
share. The current number of shares (10,668,750, with
a nominal value of 1.2 euros) will therefore become
21,337,500 shares in August, with a nominal value of
0.60 euros.
This is Azkoyen's second split in the last seven months,
following the last one in November (5 for 1), which
reduced the nominal value of the shares from 1000 pesetas
to the 200 pesetas which been further modified today.
In the General Meeting it was highlighted that wealth
has been created for shareholders over the last financial
year which, calculated as a total return, amounted to
60.24%, placing Azkoyen at number 19 in the list of
companies listed on the Stock Exchange that are generating
wealth, and in 5th place in terms of the cumulative
return over the last five years.
In 1998 the Azkoyen Group achieved profits after tax
of 1,421 million pesetas, with sales of 19,131 million
pesetas. In the first quarter of 1999, the results were
445 million, an increase of 21.3% compared with the
same period in 1998.
Azkoyen is the leading Spanish manufacturer of automatic
vending machines (hot and cold drinks, tobacco and food),
mechanisms for the selection and monitoring of methods
of payment, catering and coffee machinery and other
complementary products such as teas, sugar, etc. Sales
recorded by the Azkoyen Group in the period between
January and March of this financial year were 5,018
million pesetas.
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