State Printing House finished a successful year both in terms of sales revenue and profit: it pays HUF 53 dividend out of the HUF 91 EPS which exceeded the planned figure
The general meeting of State Printing House has approved the payment of HUF 53 dividend per share proposed by the Board of Directors and also the modification and deadline of share prices included in the share option programme.
The general meeting of State Printing House Plc which was held on 30 March 2009 approved the Company’s 2008 financial statements and the shareholders voted in favour of the proposal by the Board of Directors on the use of profit after tax. Accordingly, the Company will pay HUF 53 dividend per share. In accordance with the decision, 58% of the HUF 91 EPS will be paid. The dividend for the treasury shares of State Printing House will be divided among the shareholders proportionately so the dividend to be paid on 20 May 2009 increases to HUF 54.55. That part of profit after tax which will not be paid as dividend will be included in the capital reserve.
The general meeting supported the modification of the guidelines of the Management Share Option Programme. Due to the negative effect of the worldwide economic crisis on share price, the shareholders voted for such realistic target share prices which can be achieved in the medium term. According to the decision, the management members may call down the 800,000 pieces of ordinary shares included in the option programme defined by the Board of Directors at share prices of HUF 1000, 1250 and 1500 until 2013.
Gábor Zsámboki, chief executive officer of State Printing House Plc, member of the Board of Directors commented:
‘As previously, we focus on the interests of our shareholders in the present economic situation as well. This is supported by the payment of higher dividend than in 2007 and the continuous innovations. For the stability, the research and development activity will go on at the Company. In our opinion, this fact will support the long term interests of our shareholders the most. As opposed to traditional printing houses, our IT services and developments with high value added will ensure us the opportunity to make use of the security needs which are present more and more intensively in the crisis. All of these factors will guarantee that we can look forward to the end of the crisis in a good situation.’
State Printing House Plc