At the shareholders’ meeting of the alcoholic beverage producer AS “Latvijas balzams” on September 30, it was decided to pay dividends of 3,448,574 euros or 0.46 euros per share from the accumulated profit and retained earnings until 31 December 2017, informs the company.
It has also been decided to change the name of the company, and from May 1, 2022 it will be “Amber Latvijas balzams”.
The dividend payment date is set for October 18.
“The decision made by the shareholders in favor of the payment of dividends testifies to the company’s stability and faith in its further development,” explains Intars Geidāns, Chairman of the Board of Latvijas balzama.
Regarding the change of name, the company explains that six years ago “Latvijas balzams” joined the group of production and distribution of alcoholic beverages “Amber Beverage Group”, which this year adds an additional recognition mark – “Amber” to several of its companies around the world.
Thus, with the decision of today’s shareholders’ meeting, the name of the company will be “Amber Latvijas balzams”.
“Being in the group has brought several benefits, and these changes will also help to gain wider international recognition and new customers and larger orders,” I. Geidāns hopes.
The meeting also elected a new council for the next five years. Pjotr Avens and Jānis Buks have been recalled from the positions of council members and Guntars Reidzāns and Boriss Nešatajevs have been elected in their place, as well as Rolands Gulbis, Valižans Abidovs and Velga Celmiņa have been re-elected.
It has already been reported that the net turnover of “Latvijas balzama” in 2020 reached 68.6 million euros, which is by 12.4% less than in 2019. The audited net profit was 9.3 million euros, which is 7.2% less than in the corresponding period in 2019.
The shares of Latvijas balzama are listed on the second list of the Nasdaq Riga stock exchange. Since 2015, the company has been part of the international alcohol production and distribution group Amber Beverage Group, which operates from its head office in Luxembourg, as well as through production and distribution companies in Russia, Mexico, the United Kingdom, Australia, Austria and the Baltic States.
Amber Beverage Group is owned by billionaire Yuri Sheffler.
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