Harvia updates its dividend policy to support the company’s growth strategy

Harvia Plc, press release, February 10, 2022 at 09:03 EET

Harvia updates its dividend policy to support the company’s growth strategy

Harvia Plc’s board of directors has decided to update Harvia’s dividend policy. Under the previous dividend policy, Harvia targeted:

The cornerstones of Harvia’s strategy are increasing average purchase value, geographic expansion and continuous improvement in productivity and innovation. In line with this strategy, Harvia has gained market share and improved its position in the global sauna and spa market, both through strong organic growth and through mergers and acquisitions. In 2021, Harvia also made growth investments totaling EUR 11.8 million to expand production capacity and improve productivity.

As part of the new dividend policy, Harvia aims to:

“We see exciting growth opportunities for Harvia in the future. To support our future growth, we will continue to seek out attractive M&A opportunities and invest in our operations. 2021 has been a year of strong growth for Harvia – and we want to continue on this path. The revised dividend policy increases Harvia’s financial flexibility and allows us to seize attractive growth opportunities. To support this strategic objective, we intend to keep more cash within the company for growth investments,” comments Tapio Pajuharju, CEO of Harvia.

For the 2021 financial year, the Board of Directors proposes to the Annual General Meeting in April that the company distributes a dividend of EUR 0.60 per share. It is proposed to pay the dividend in two installments, EUR 0.30 per share in April 2022 and EUR 0.30 per share in October 2022. The dividend distributed by Harvia Plc for the financial year 2021 would amount to EUR 11,216,542 in total (paid in 2021: EUR 0.51 per share, EUR 9,570,600 in total).

Further information :

Ari Vesterinen, CFO, tel. +358 40 505 0440

Harvia in a nutshell:

Harvia is one of the leading companies operating in the global sauna and spa market, in terms of revenue. Harvia’s brands and product portfolio are well known in the market, and the company’s comprehensive product portfolio strives to meet the needs of the international sauna and spa market for private and professional customers.

Harvia’s turnover amounted to 179.1 million euros in 2021. Harvia Group employs more than 800 professionals in Finland, China and Hong Kong, Romania, Austria, United States , Germany, Estonia and Russia. The company is headquartered in Muurame, Finland, adjacent to its largest sauna and sauna component manufacturing plant.

Learn more: https://harviagroup.com

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