Vita 34 AG: Dividend Increased by 7 Percent
DGAP-News: Vita 34 AG / Key word(s): AGM/EGM/Dividend
Vita 34: Dividend Increased by 7 Percent
Leipzig, 25 August 2016 – The shareholders of Vita 34 AG (WKN A0BL84), the largest private stem cell bank in the German-speaking countries, approved by a great majority at today’s regular Annual General Meeting the proposal of the Management and Supervisory Boards to pay a dividend for the second year in a row in the amount of EUR 0.16 per share (prior year EUR 0.15 per share). The dividend, therefore, improved to 3.8 percent (prior year 2.7 percent). Basis for calculation is the closing price on the day before the Annual General Meeting.
The CEO, Dr. André Gerth, informed the shareholders about the development of the company in fiscal year 2015, as well as in the first half year of 2016. This is a period that was characterized by the consistent implementation of a Buy and Build strategy, with which Vita 34 has further bolstered its market leadership in Europe. In conclusion, Dr. Gerth provided an outlook on the goals for future development.
Overall, the CEO was very optimistic: “The fact that we are now paying our shareholders a dividend for the second year in a row is an expression of the strength of our profits and cash flow. Long-term, reliable receipts provide Vita 34 with a high degree of planning security with regard to profits: This is an ideal basis for stable dividend payments, which we want to make in the future, as well! We expect to be able to increase revenues and total operating income in the second half of 2016, as well. Since the integration and restructuring of companies acquired in 2015 proceeded more quickly than forecasted, we expect an EBITDA margin in the upper part of the target range of 8 to 12 percent for the full year 2016. Following completion of the integration measures, in the medium term we have set a goal to return to a target value in the range of 20 percent.”
To implement its growth strategy, Vita 34 is pursuing the following objectives: Expansion of operating business by strengthening sales efficiency, anorganic growth via selective, opportunistic acquisitions in important European markets, as well as active portfolio and lifecycle management.
The proposed resolution to grant the Management and Supervisory Boards discharge, as well as the selection of the financial reporting and group auditors Ernst & Young GmbH Wirtschaftsprüfungsgesellschaft, Stuttgart (Leipzig branch), were clearly approved by the shareholders.
In addition, the shareholders passed a resolution to change the by-laws to allow quarterly payment of the Supervisory Board remuneration. The intent of this is to take into account the requirements of the Supervisory Board activities and the widespread practice of other publicly listed companies.
The detailed voting results will be published soon in the Investor Relations section of the company website www.vita34group.de.
Vita 34 was founded in 1997 as the first private umbilical cord blood bank in Europe and, as a complete provider, offers collection logistics, preparation and storage of umbilical cord blood. The basis for its successful work is an outstanding position in the technological segment of cryo-preservation. Here, cells and tissue are preserved alive at some -190ºC for long periods of time, and can be used if needed in the context of medical treatment. More than 150,000 families are already taking advantage of this offering and have provided for their children with a stem cell deposit at Vita 34.
|Company:||Vita 34 AG|
|Deutscher Platz 5a|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of News||DGAP News Service|