Tirlán Board Proposes Increased Dividend Totaling €7.1 Million
Source: The DairyNews
Tirlán's board is set to recommend an augmented dividend of 20.96 cents per share at its upcoming Annual General Meeting scheduled for May 9.
If approved, this would translate to a total dividend payout of €7.1 million to shareholders registered on that date, marking a 10% increase from the 2023 dividend of 19.06 cents per share, which amounted to €6.5 million.
The proposed dividend aligns with Tirlán's commitment to ensuring a fair return for its shareholders, as outlined in its 2023 annual report. The report also highlights that a total share interest of €0.96 per share has been paid out over the preceding five-year period.
Despite a 17% decrease in turnover to €2.53 billion in the latest financial accounts, Tirlán remains focused on delivering value to its shareholders. Operating profits saw a 5% decline to €68.3 million in 2023. Notably, the co-op continues to benefit from significant dividend income from its 28.62% shareholding in Glanbia plc, valued at €1,346.1 million as of April 5, 2024.
John Murphy, Chair of Tirlán, highlighted the organization's strategic evolution, including the distribution of 48.6 million Glanbia plc shares to co-op members and the payment of €86.9 million in share interest dividends since 2012.
Looking ahead, incoming CEO Seán Molloy emphasized Tirlán's investment focus on diversification and value addition. With an investment fund of €210 million, the co-op aims to explore opportunities that enhance its product offerings and ensure sustainable returns for its stakeholders, while exercising caution to select investments that align with its long-term objectives.
The proposed dividend aligns with Tirlán's commitment to ensuring a fair return for its shareholders, as outlined in its 2023 annual report. The report also highlights that a total share interest of €0.96 per share has been paid out over the preceding five-year period.
Despite a 17% decrease in turnover to €2.53 billion in the latest financial accounts, Tirlán remains focused on delivering value to its shareholders. Operating profits saw a 5% decline to €68.3 million in 2023. Notably, the co-op continues to benefit from significant dividend income from its 28.62% shareholding in Glanbia plc, valued at €1,346.1 million as of April 5, 2024.
John Murphy, Chair of Tirlán, highlighted the organization's strategic evolution, including the distribution of 48.6 million Glanbia plc shares to co-op members and the payment of €86.9 million in share interest dividends since 2012.
Looking ahead, incoming CEO Seán Molloy emphasized Tirlán's investment focus on diversification and value addition. With an investment fund of €210 million, the co-op aims to explore opportunities that enhance its product offerings and ensure sustainable returns for its stakeholders, while exercising caution to select investments that align with its long-term objectives.
