Gestamp’s Board of Directors approves a new dividend policy
The Board of Directors of Gestamp, the multinational company specialized in the design, development and manufacture of highly engineered metal components for the automotive industry, approved a new dividend policy yesterday.
In accordance with the policy, the Company will continue to distribute on an annual basis a total dividend equivalent to approximately 30% of the consolidated net profit for each year, but in two payments, anticipating part of the payment via an interim dividend:
- A first payment, through the distribution of an interim dividend, that will be approved pursuant to a resolution of the Board of Directors to be adopted in December of each year and paid between January and February of the following year.
- A second payment, through the distribution of an ordinary dividend, that will be approved by virtue of a resolution of the Ordinary General Shareholders' Meeting at the time of approval of the annual accounts and will be paid between the months of June and July of each year.
In addition and in line with this new policy, the Board of Directors approved the distribution of an interim cash dividend against 2018 financial results for a gross amount of 0.065 euros per share, a dividend that will be paid on January 14th, 2019.