Pegas Nonwovens informed that after completing refinancing of its debt, company will pay out dividends already in 3Q2007, in comparison to previous expectation of 2008. The BoD plans EUR 7m to be distributed as a first dividend, which is EUR 0.76 or CZK 21.7 per share. This implies 34.5% dividend pay-out ratio and dividend yield of 2.7%. Management plans progressive dividend policy to be introduced in following years.
News surprised investors as a first dividend was expected in following years. Information came out yesterday during the trading session and stock strengthen by 2.9%.