Arctic Stream wants to grant dividends of five million lei

The shareholders of the IT infrastructure and security integrator Arctic Stream (AST) were convened on April 23 with the proposal that, from last year's profit of 9.1 million lei, the sum of about five million lei be distributed as dividends, according to a report of the company published on Friday on the website of the Bucharest Stock Exchange (BVB).

The unit dividend is 1.2 lei, which, compared to the price of the AST share as of Friday afternoon, 31.4 lei, is equivalent to a gross yield of 3.8%. The registration date, which defines the shareholders who will benefit from dividends if the proposal passes the AGM, is May 28, while the proposed payment date is June 10.

The profit obtained by the companies last year was 35% above that of 2022, being also 8% higher than that predicted in the BVC. Operating profit (EBIT) rose by 38%, from 7.71 million lei, in 2022, to 10.62 million lei (2.13 million euros), at the end of last year.

On the one hand, the continuous expansion of the team, at the technical, operational and commercial level, which increased from 25 employees at the end of 2022 to 32 employees and collaborators at the beginning, contributed to Arctic Stream's results last year of 2024. On the other hand, throughout 2023, the company signed five significant contracts (with a value of each of at least 10% of the turnover in 2022). Some of these are ongoing for two or three years and, even if they are framework contracts, without representing firm promises to buy, they have a very good potential to materialize in operational growth, according to a company statement.

Arctic Stream, a company listed on the AeRO Market of the Bucharest Stock Exchange, is 67% owned by Dragoş-Octavian Diaconu. The current stock market valuation of the issuer amounts to approximately 132 million lei.