December 10, 2021
AS DelfinGroup will pay out 0,512 million euros in dividends and issue bonds up to 10 million euros
Latvian financial service company AS DelfinGroup will pay out EUR 512 111,41 in dividends from the third quarter’s profit, and each shareholder will receive EUR 0,0113 per share - resolved the shareholders’ meeting of AS DelfinGroup. This will be the first dividend pay-out since initial public offering (IPO) in October and dividends are to be paid to all shareholders on 29 December.
AS DelfinGroup’s CFO Aldis Umblejs: “We are one of the few companies on Baltic stock exchanges to pay out quarterly dividends up to 50% from the profit of the previous quarter. Is quite common in USA and Canada but rewarding shareholders so regularly has not been so common on Baltic stock exchanges. The shareholders’ meetings also approved issuing of bonds up to ten million euros, as part of the cost reduction program. It will ensure the execution of growth targets included in company’ s development strategy, because we continue paying back funds with more than 10% interest rate which we raised in previous years and replace them with new funding with much lower interest rate. Given 10 million euros already been paid back since IPO, we plan to complete the payback of 13,5 million euros raised previously and refinance by 27 December which will allow us to significantly reduce our financing cost.”
This was the first shareholders‘ meeting of AS DelfinGroup after the IPO and it was held in compliance with all restriction due to pandemic.
AS DelfinGroup’s revenues have increased by 8,2% in nine months this year and reached 18,4 million euros, its net profit was 1,02 million euros which was a 24% increase against the previous quarter.
AS DelfinGroup’s share capital currently is 45 319 594 shares. The company shareholders are SIA L24 Finance (57.53%), SIA EC Finance (18.81%), SIA AE Consulting (8.83%), along with the company’s management team (3.08%). 11.75% of company shares are free float on Nasdaq Riga Baltic Main List.
About AS DelfinGroup
AS DelfinGroup is a licenced technology-based financial services company that was established in 2009 and operates under the brand names Banknote and VIZIA. The company continuously develops and offers consumer and pawn loans, loans developed for senior citizens, Buy now pay later loans (BNPL loans), as well as sale of pre-owned goods both online and at more than 90 branches across Latvia. On average, 35,000 thousand loans are issued every month and serviced by the professional team of more than 270 AS DelfinGroup employees. The company has a total of over 400,000 registered customers. Since 2014, AS DelfinGroup has been known on the Nasdaq Riga Stock Exchange as a bond issuer and since 2021 as a share issuer on the Baltic Main List. The company’s IPO in 2021 attracted almost 6000 new shareholders. The company regularly pays dividends to its shareholders. In 2020, the company's net loan portfolio grew to EUR 34.6 million, while its EBITDA reached EUR 9.3 million, with profits before income tax for dividends EUR 4.65 million. The company’s sustainability is based on focused corporate governance, fintech innovation, responsible lending, financial inclusion and facilitating the circular economy. The company has been profitable every year since 2010.