Shareholder remuneration policy
Ercros is committed to shareholder remuneration and reflects its commitment in a policy that renews upon expiry
The policy envisages the payment of a payout of up to 50 %
In accordance with the current shareholder remuneration policy, in force during the period 2021-2024, shareholder remuneration is carried out through the purchase of treasury shares for redemption and the payment of dividends.
Ercros will remunerate its shareholders with a maximum payout of 50% of the profit for the financial years 2021, 2022, 2023 and 2024, provided that the following conditions are met:
- The Company obtains a minimum profit of 10 million euros.
- At the end of the financial year to which the remuneration refers, the following ratios must be met
- Net financial debt/ordinary EBITDA less than or equal to 2; and
- Net financial debt/equity less than or equal to 0.5.
The repurchase of treasury shares for redemption is carried out provided that a dividend of at least: 18% of 2021 profit; 20% of 2022 profit; 22% of 2023 profit; and 24% of 2024 profit is distributed.
The current shareholder remuneration policy was approved by the board of directors on 03-05-2022 and ratified by the shareholders' meeting on 10-06-2022.