“Madara Cosmetics to pay 0.35 euros per share to shareholders from last year’s profit and undistributed profit”

The board of the Latvian cosmetics manufacturer “Madara Cosmetics” will pay 0.35 euros per share to each shareholder from last year’s profit and previously undistributed profit, according to the information submitted to the stock exchange.

At the company’s regular shareholders’ meeting on June 28, 2023.

As one of the issues to be discussed at the meeting, the board’s proposal is to divert 1,229,549 euros from the profit of 2022 for the payment of dividends, and 91,669.85 euros from the undistributed profit of previous years.

The board’s proposal is to pay 1,321,219.85 euros in dividends, or 0.35 euros per share.

At the shareholders’ meeting, it is also planned to decide on the issue of personnel options and the related conditional increase of share capital.

25,000 dematerialized bearer shares of the same category with a nominal value of EUR 0.1 per share and a total nominal value of EUR 2,500, which does not exceed 10% of the company’s paid-up capital at the time of the decision to grant personnel options, are intended to cover all personnel options.

It is also planned to approve the 2022 financial report at the regular meeting of shareholders, as well as to approve changes in the company’s statutes.

For those shareholders who wish to participate in the meeting, according to the information published by the stock exchange, until June 26, 2023 at The published meeting application form signed with a secure electronic signature must be sent by 17:00 together with a copy of the identity document.

In 2022, the audited turnover of “Madara Cosmetics” was 17.896 million euros, which is 5.4% less than in 2021, but the company’s profit decreased 2.8 times – to 1.229 million euros. At the same time, the turnover of the “Madara Cosmetics” concern last year was 18.696 million euros, which is 3.5% less than in 2021, but the profit of the concern decreased 3.3 times – to 1.121 million euros.

The company was registered in 2006, and its share capital is 377,491.1 euros. The largest owners of “Madara Cosmetics” are Uldis Iltners (23.92%), Lote Tisenkopfa-Iltner (23.76%), Finnish “Transmeri Group Ab” (22.93%), Liene Drāzniece (6.79%) and Zane Tamane (6.35%). “Madara Cosmetics” shares are listed on the “First North” alternative market of the “Nasdaq Riga” stock exchange.

You can get to know the company’s creator and chairman of the board, Lotti Tisenkopf-Iltner, by watching the program “Future Capital”.