For investors


Regular dividend payments are one of the key elements of our strategy. Our business model features high operating cash flows and low capital expenditures. We do not own hotels, aircraft or coaches and we do not intend to buy these because we believe that we can generate higher rates of return focusing on our core business rather than investing in fixed assets. This allows us to pay out a significant part of our earnings to our shareholders.

In the long term, the Management Board expects to recommend annual dividend payments corresponding to 70-80% of net profit. Dividend payments require general meeting approval adopted by a qualified majority of 2/3 of shareholders present at the general meeting. 

The dividend policy will be reviewed periodically by the Management Board, and all recommendations concerning dividend payments will take into account forecasts regarding the Company’s perspectives, future earnings, cash needs, financial standing, liquidity ratios and growth plans.

Dividends paid out to shareholders since Novaturas debut on the Warsaw Stock Exchange and Nasdaq Vilnius in March 2018:

Dividend for the period

Total amount of dividend paid out (in EUR 000s)

Dividend per share (in EUR)

6M 2018

4 060


Dividends paid out to shareholders in 2014-2017: 

Dividend for year

Total amount of dividend paid out (in EUR 000s)

Dividend per share 1) (in EUR)


4 500



5 000



4 000



20 000


1) The dividend per share value was calculated using the number of shares after the split conducted based on a general meeting resolution of 16 January 2018.