At the general meeting held on Thursday, real estate developer Arco Vara decided to continue its quarterly dividend policy, paying shareholders 6 cents per share, totaling over 623,000 euros.

According to the decision, Arco Vara, a residential real estate developer, will pay its shareholders 2 cents in dividends next month, 1 cent in September, 2 cents in December, and 1 cent per share in March 2025. In total, Arco Vara will distribute 6 cents per share, with the total dividend amount exceeding 623,000 euros. Based on the current share price, this gives investors a dividend yield of 3.9%, which is comparable to LHV Group’s dividend expectations for this year.

Shareholders eligible for the quarterly dividends will be determined on the 6th of the payout month, with the ex-date being the previous day.

“In 2021, we designed our dividend policy to ensure long-term stability for Arco Vara investors, and we plan to continue this approach,” said Arco Vara CEO Miko Niinemäe. According to him, investor feedback on their dividend policy over the past three years has been exclusively positive.

In addition to approving the dividend policy, Arco Vara’s general meeting also approved the 2023 annual report, according to which the real estate developer earned 18.34 million euros in revenue last year. Shareholders confirmed a net profit of 3.55 million euros for 2023, which will be added to the company’s retained earnings.

At the meeting, Niinemäe also outlined the goals for the current year. Arco Vara, operating in the Estonian and Bulgarian markets, forecasts a revenue of 24.9 million euros and a profit of 2 million euros for 2024. Construction is planned to start this year on the Soodi 6 property, the Arcojärve development, and the second phase of the Bulgarian residential development. Additionally, the developer aims to finalize sales for over 50 completed homes.