Fluidra will increase its dividend by 90% with a payout of 0.4 euros per share

Rhea-AI Summary

Fluidra (OTC: FLUIF) announces a significant 90% increase in its dividend payout for 2021, proposing 0.40 euros per share, up from 0.21 euros last year. If approved at the General Shareholders' Meeting on May 6, shareholders will receive 0.20 euros on July 6 and another 0.20 euros on November 3, resulting in a dividend yield of around 1.7%. This decision is supported by strong cash flow and a robust balance sheet, with a maximum payout totaling 78 million euros. The company also continues its growth through strategic acquisitions.

Positive

• Dividend payout increased by 90% to 0.40 euros per share.
• Strong cash flow and healthy balance sheet support the dividend.
• Total dividend payout could reach 78 million euros.
• Successful acquisitions, including CMP for 245 million USD.

Negative

• None.

BARCELONA, Spain, March 26, 2021 /PRNewswire/ -- Fluidra (OTC: FLUIF) (LSE: 0ILI), the global leader in the pool and wellness equipment sector, continues generating shareholder value in 2021. The Board of Directors has agreed to propose to the General Shareholders' Meeting a dividend payout of 0.40 euros per share charged to voluntary reserves.

The company resumed its dividend payout after the merger in 2020 with the payment of 0.21 euros per share last October and now proposes a 90% increase for 2021. If approved, Fluidra will execute a first payment of 0.2 euros per share on 6 July and another of 0.2 euros on 3 November. At current share prices, this means a dividend yield of around 1.7%.

This significant rise in the payout to investors is backed by strong cash flow, a healthy balance sheet and the soundness of the sector in general and Fluidra's in particular. The payout will amount to a maximum of 78 million euros and is subject to approval by the General Shareholders' Meeting to be celebrated on 6 May.

Following record results last year, the company carried over 99 million euros to voluntary reserves, which by far covers the payout of 0.4 euros per share proposed by the Board of Directors.

"The payment of dividends to our shareholders is one of our hallmarks. The soundness of our business and balance sheet, together with a strong cash flow, allow us to finance initiatives that deliver value to our stakeholders, including both shareholder remuneration and inorganic growth operations", highlighted Eloi Planes, Fluidra's Executive President.

The multinational continued executing accretive acquisitions this year, announcing the purchase of the US company CMP for 245 million US dollars. Fluidra also recently announced the assets purchase of Built Right for 10 million US dollars and the signing of an asset purchase agreement for the Splash and Zen business in Belgium for 3.5 million euros plus earn-outs. The latter is expected to close in September 2021.

 

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SOURCE Fluidra

FAQ

What is Fluidra's proposed dividend amount for 2021?

Fluidra has proposed a dividend of 0.40 euros per share for 2021.

When is the dividend payment scheduled?

The dividend payments are scheduled for July 6 and November 3, 2021.

What is Fluidra's dividend yield for 2021?

The dividend yield for Fluidra in 2021 is approximately 1.7%.

How much will be paid out in total for the dividend?

The total dividend payout may reach a maximum of 78 million euros.

When is the General Shareholders' Meeting for approval?

The General Shareholders' Meeting is scheduled for May 6, 2021.