Benefit Systems Management Board recommended a record dividend of nearly PLN 400 million
The dividend recommended by the Benefit Systems Management Board will amount to almost 100% of the consolidated net profit less unrealised exchange rate differences, which will translate into a payment of PLN 135 per share. This amount will be three times higher than the dividend paid for 2022. The dividend date was proposed for 16 September this year, and payment in two equal tranches for 27 September and 25 November 2024. The Management Board’s recommendation received a positive opinion from Benefit Systems Supervisory Board on 27 May this year.
– The dividend recommended by the Management Board for the record year 2023 takes into account the need to share profits with shareholders and our development plans. The company’s balance sheet is strong. We have also accumulated a large reserve of cash, among other things, due to the payment of dividend for 2022 at a level that takes into account the high uncertainty on the market at that time. High demand and growth in 2023 allow us to currently pay a dividend of close to 100% of consolidated profit. At the same time, in the coming years we plan to implement a dividend policy in the lower interest registers, as long as we continue our investment plans as a growth company – says Marcin Fojudzki, Management Board member at Benefit Systems, and adss: – We believe that entities with high flexibility in making investment decisions will be able to gain or, in our case, strengthen, market their advantage in the near future.
The Management Board’s recommendation, approved by the Benefit Systems Supervisory Board, is consistent with the dividend policy adopted for 2023-2025, which assumes the payment of a minimum of 60% of consolidated net profit adjusted for unrealised exchange rate differences. The proposed dividend is over three times higher than in the previous year and amounts to PLN 135 per share, which is 98% of consolidated net profit of the Capital Group for 2023. The Benefit Systems Management Board proposed the payment of dividend in two equal tranches: PLN 67.5 per share on 27 September and 25 November this year. The final decision regarding the distribution of net profit for the previous year, including the possible payment of dividend and its amount, will be made by the Ordinary General Meeting.
In 2023, Benefit Systems paid a dividend for 2022 in the amount of PLN 41 per share. The total amount allocated for payment was PLN 120 million.
Information on the dividend policy for 2023-25 is available in the Investors tab at https://www.benefitsystems.pl/en.
Benefit Systems has been operating on the Polish market for over two decades and is one of the leaders in providing non-financial benefits that support employee well-being. The company is the creator of the MultiSport Programme, which enables physical activity in sports facilities throughout the country. Its portfolio also includes the MyBenefit cafeteria platform and the MultiLife wellbeing programme. For several years now, the company’s sports offer has been developed on foreign markets, including the Czech Republic, Slovakia, Bulgaria, and Croatia. The Benefit Systems Group operates over 240 fitness clubs on four markets (in Poland it is responsible for the Fabryka Formy, FitFabric, Fitness Academy, My Fitness Place, Saturn Fitness, StepONE, Total Fitness and Zdrofit networks). An important area of Benefit Systems activities is the promotion of an active lifestyle at every stage of life, which is why the company implements initiatives supporting physical activity of children, adults, and seniors, also as part of the MultiSport Foundation. Since 2018, Benefit Systems has been part of the global B Corp initiative, bringing together companies operating and engaging in solving the most important social problems. More information can be found at benefitsystems.pl/en.