Press Room
Prosegur Cash launches a Reinvestment Programme and a Share Repurchase Programme
Prosegur Cash's Board of Directors has taken the decision to propose to its shareholders a reinvestment programme in shares of the third tranche of the interim dividend. This option allows the company to maintain its firm commitment to shareholders remuneration while offering them the possibility of benefiting from a potential share price revaluation. In addition, Prosegur Cash has announced the implementation of a share repurchase programme for up to 45 million shares, representing approximately 3% of the share capital. This programme reinforces the remuneration to the shareholders while enabling them to benefit from a potential share price revaluation.
Madrid, 03 June 2020 – Prosegur Cash has communicated to the National Securities Market Commission (CNMV) that the third instalment of the total dividend amount approved last December will be paid to the shareholders on 29th June 2020. This amount, corresponding to 25% of the total dividend, equals to 0.014525 gross euros per share (0.01176525 net euros per share).
Dividend reinvestment programme
Considering the economic uncertainty resulting from the COVID-19 coronavirus pandemic, the company's Board of Directors has decided to offer shareholders, who voluntarily wish, the possibility of reinvesting the net amount to be received in new ordinary shares of the company. Prosegur Cash is thus offering its shareholders the opportunity to reinvest in the company, given the current situation and the recent evolution in the share price, while fulfilling its commitment to remunerate shareholders.
It should be noted that the main shareholder, Prosegur Compañía de Seguridad, S.A. and its subsidiary Prosegur Asset Management, S.A. who hold 72.5% of the share capital, has confirmed its willingness to allocate the full amount to be received as dividend into the reinvestment programme.
Share repurchase programme
In the same vein, Prosegur Cash has informed the CNMV of its intention to initiate a repurchase programme for its own shares, which will be subject to subsequent amortization. An initiative that is complementary to the dividend reinvestment programme.
The above-mentioned programme will affect a maximum of 45 million shares, approximately 3% of Prosegur Cash's current share capital, and shall run for a maximum of one year.
With this repurchase programme, the company is strengthening the remuneration to their shareholders while also allowing them to benefit from a potential share price revaluation.
It is placed on record that the majority shareholder of the Company, Prosegur Compañía de Seguridad, S.A. and its wholly owned subsidiary, Prosegur Asset Management, S.A., holders of 72.5% of the share capital, has stated its intention not to sell Prosegur Cash shares in the coming months.
With these two initiatives, Prosegur Cash strengthens its commitment to its shareholders and reinforces its confidence in the potential for share price revaluation.