The General Shareholders’ Meeting of Amadeus, one of the world’s two largest providers of technology services for travel companies, has approved to return to dividend distribution after having suspended this type of profit distribution with the outbreak of the pandemic in 2020.
Specifically, this Wednesday’s meeting approved a final full dividend of 0.74 euros per share charged to the 2022 results, which will mean distributing a total of 333.4 million euros, close to 50% of the profit. The payment will be made on 13 July.
The AGM also approved the company’s accounts and re-elected for a period of one year all the directors whose term of office was due to expire.
In addition, at the proposal of the company’s Nomination and Remuneration Committee, Frits Dirk van Paasschen was appointed independent director for a period of three years, replacing Francesco Loredan.
Over the past year, Amadeus earned €664.3 million, compared to a loss of more than €122 million in 2021, thanks to a 68% increase in revenue. Revenues are already 19.5% lower than in 2019, before the pandemic.
In addition, Amadeus’ board of directors approved in early June the launch of a share buyback programme with a maximum investment of 433.3 million euros and 6.12 million shares, representing 1.358% of the capital.
As reported to the Comisión Nacional del Mercado de Valores (CNMV), the programme, which came into effect on 6 June, will have a maximum duration of six months and will be divided into two phases: one for the conversion at maturity or early redemption of certain bonds and another to allocate shares for employees, managers and the executive director.