Dividends policy
On 28th July 2021 the Board of SC KN Energies (hereinafter – the Company) has approved the renewed Dividend Policy of Company. Dividend Policy is based on the existing legislation and secondary legislation of the Republic of Lithuania, the Company's Articles of Association and other Company's internal documents.
The main objectives for a dividend policy are:
Following the Lithuanian Government Resolution of 14th January 1997 No. 20 On The Dividends For The State-Owed Shares (Official Gazette, 1997, no. 6-102 with all subsequent amendments and additions) criteria of the article no. 3., Dividend Policy respectively reflets that the amount of dividends for the years 2021-2024 is calculated by eliminating from the Company’s distributable profit unrealised foreign exchange rates impact and other unrealised gains (losses). The Company’s return on equity is calculated based on the data of the set of audited annual financial statements, net profit (loss) of the reporting period by eliminating the impact of unrealised foreign exchange rates and other unrealised gains (losses) divided by the average equity at the beginning and end of this period. Equity at the beginning of the reporting period is adjusted by estimating the impact of unrealised foreign exchange rates and other unrealised gains (losses) accumulated before the reporting period. Equity at the end of the reporting period is adjusted by estimating the impact of unrealised foreign exchange rates and other unrealised gains (losses) of the reporting period and those accumulated before the reporting period.
KN Energies Dividend Policy
Below is the historical information about paid dividends in periods for the prior financial year:
The main objectives for a dividend policy are:
- compliance with the applicable laws of the Republic of Lithuania, secondary legislation, the Articles of Association and internal documents of the Company;
- assurance of the Company’s shareholders interests;
- commitment to high corporate governance standards;
- enhance of the Company’s market value;
- definition of the Company’s procedures relating to transparent publication and payment of dividends.
Following the Lithuanian Government Resolution of 14th January 1997 No. 20 On The Dividends For The State-Owed Shares (Official Gazette, 1997, no. 6-102 with all subsequent amendments and additions) criteria of the article no. 3., Dividend Policy respectively reflets that the amount of dividends for the years 2021-2024 is calculated by eliminating from the Company’s distributable profit unrealised foreign exchange rates impact and other unrealised gains (losses). The Company’s return on equity is calculated based on the data of the set of audited annual financial statements, net profit (loss) of the reporting period by eliminating the impact of unrealised foreign exchange rates and other unrealised gains (losses) divided by the average equity at the beginning and end of this period. Equity at the beginning of the reporting period is adjusted by estimating the impact of unrealised foreign exchange rates and other unrealised gains (losses) accumulated before the reporting period. Equity at the end of the reporting period is adjusted by estimating the impact of unrealised foreign exchange rates and other unrealised gains (losses) of the reporting period and those accumulated before the reporting period.
KN Energies Dividend Policy
Below is the historical information about paid dividends in periods for the prior financial year:
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|
| Dividends distributed for the previous year, thousand EUR | 5,000 | 0 | 0 | 7,538 | 7,947 | 11,577 | 17,031 |
| Dividends per one share in EUR | 0,0131 | 0 | 0 | 0,0198 | 0,0209 | 0,0304 | 0,0447 |
| Net profit per 1 share in EUR | 0.02 | 0 | 0 | 0.03 | 0.02 | 0.03 | 0.04 |
| Dividends for net profit (of previous FY), % | 82% | - | - | 66% | 100% | 100% | 100% |