Investor Presentaiton
Returning capital to shareholders
Capital distribution
GEL millions
Number of shares outstanding (period-end)**
millions
PAYOUT
RATIO:*
36% 33% 34% 32% 30% 30%
35%
37%
37%
49.2
49.2
535
2.0
1.6
49.2
2.3
47.5
45.8
514
2.5
2.2
188
162
257
73
122 124
72 80
98
102
No dividend
paid due to
Covid-19
pandemic
347 352
This includes a
final dividend of
GEL 4.94 per
share that the
Board intends to
recommend at
the 2024 AGM
47.2
47.5
46.9
45.0
43.6
184
2013
2014 2015 2016 2017 2018
2019 2020 2021 2022 2023
Dec-19
Dec-20
Dec-21
Dec-22
Dec-23
Dividend for the year
■Share buyback
Ordinary shares outstanding
Treasury shares outstanding
In August 2023, the Board announced a further share buyback and cancellation programme ("Buyback Programme") totalling GEL 62 million. The total number of
shares cancelled since the launch of the Buyback Programme in August 2023 is 205,621 at a cost of GEL 23.9 million. Currently, the total number of shares in issue is
45,709,102
The Board intends to recommend, at the 2024 Annual General Meeting, a final dividend for 2023 of GEL 4.94 per share, making a total dividend for 2023 of GEL
8.00 per share. This is a 5% increase on the dividend for 2022 - a year boosted by significant one-offs and FX income which broadly normalised in 2023
The Board has also approved an extension of the buyback and cancellation programme by an additional GEL 100 million
*For the purpose of total payout ratio calculation, total buyback amount is divided by outstanding shares before the beginning of the respective programme.
**Treasury shares are provided per IFRS and mainly include shares held by Executive and Employee trusts.
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