Kernel will not pay dividends for fiscal year 2023, despite earnings

Agroholding “Kernel” will not pay dividends for the 2023 fiscal year.

The relevant decision was made at the shareholders’ meeting, reports Latifundist with reference to the message of “Kernel” on the Warsaw Stock Exchange.

The decision to not pay dividends was made, despite the fact that the agricultural holding ended the financial year with a profitable result.

Kernel Holding S.A. announces that the annual general meeting of shareholders held on December 11, 2023 declared a zero dividend for the financial year ending June 30, 2023,” the report said.

“Kernel” received $299 million in revenue in fiscal year 2023. And before that, the company’s profit was $41 million.

Previously, USM reported that the exclusion of the Kernel agricultural holding from the Warsaw Stock Exchange was extended until 2024.

This year it became known that “Kernel” plans to withdraw from the Warsaw Stock Exchange, since the listing in 2007 did not bring the expected benefits to the agricultural holding. Delisting became the reason for the conflict between the minorities and the board of directors of “Kernel”.