Aerostar will allocate dividends of 36 million lei

Shareholders of the aeronautical company Aerostar Bacău (ARS) have approved the allocation of 36.5 million lei as dividends, from last year's profit of 95.7 million lei, according to a report by the issuer published, at the end of last week, on the website of the Bucharest Stock Exchange (BVB).

The unit dividend is 0.24 lei, which compared to the company's share price on Friday in the second part of the trading session, of 9 lei, is equivalent to a net yield of about 2.2%. The registration date, which defines the shareholders who will benefit from dividends if the proposal passes the AGM, is May 15, while the payment date is June 5.

Last year, the aeronautical company achieved a turnover of 584 million lei, 15% more than in 2023, with export sales reaching 458.8 million lei, up 12%. Net profit was 95.7 million lei, 3% higher than the previous year. Aerostar operates on the global market of products and services in the aeronautical and defense industry as an independent company.

Aerostar's customers are located in Europe, Asia, Africa, the USA and Canada. In Canada and the United States it provides aviation products, while in Asia and Africa it provides civil aviation maintenance services. In Europe it provides maintenance services for civil aviation, aviation products (landing gear systems, mechanical parts, assemblies and subassemblies), electronic equipment and ground equipment. In Romania, the company provides repair services for military aircraft and repair of electronic parts and components for military aircraft, modernizations, integrations and maintenance for military aviation systems, repair services for systems and launchers and civil aviation products, according to the information presented in the issuer's annual report.

About 21% of the company's turnover last year was achieved in our country, while in Europe, Aerostar achieved almost 63% of its turnover, and in Asia almost 11%, according to the same source.

Aerostar Bacău, an issuer whose stock market valuation amounts to almost 1.4 billion lei, is 71.5% owned by Iarom Bucharest, while Evergent Investments had 15.2% of the company.