Metalac increases share acquisition price

(Photo: Metalac.com)

Gornji Milanovac-based Metalac announced it changed previous decision for shares acquisitions. It is a logical step after recent share price increase at the Belgrade’s Stock Market.

Metalac initially planned to acquire its own shares as pro-rata principle at the price of RSD 2.200, while the new offer to shareholders contains price of 2.230 dinars per share while the offer was extended until October 9.

Last time the company acquired its own shares in March 2014 at the price of RSD 2.420 when it acquired 2,1% shares of its own portfolio. These securities were later distributed to management and employees for incentives which is an objective now as well when the company is planning to acquire up to 3% of its own shares (30.600 shares).

Metalac is one of rare successful companies where managers and employees have ownership control. Long, stable company’s dividend policy where shareholders are the most important contributed to this kind of situation development.

This year, Metalac paid dividend in gross amount totaling RSD 150 per share which provides dividend yield of 6, 7% at the price of RSD 2.230.