Vassiliko Cement Works Public Company Ltd on Friday confirmed the approval of all resolutions presented during its annual general meeting (AGM) of shareholders held on June 5, 2025.
The company operates in the clinker and cement production sectors and oversees five dedicated quarries for the extraction of raw materials used exclusively in cement manufacturing.
These include the largest limestone quarry in Cyprus, a reef limestone quarry, two clay quarries, and a gypsum quarry.
At the AGM, shareholders approved the management report and financial statements for the year 2024, which are available on the company’s official website.
The meeting also approved the payment of a total dividend of €12.94 million, equivalent to €0.18 per ordinary share.
Of this amount, €0.06 will be paid from the company’s profits for 2023 and €0.12 from the profits of 2024 included in retained earnings.
The dividend will be distributed to shareholders registered in the Cyprus Stock Exchange (CSE) registry on June 18, 2025, which is the official record date.
The company’s shares will trade without the right to the dividend, known as ex-dividend, as of June 17, 2025.
Investors who purchase shares by close of trading on June 16, 2025, will be eligible to receive the dividend.
The company clarified that shareholders will also be entitled to the dividend if their ownership is the result of an off-exchange share transfer completed by the record date.
The dividend payment will be executed by July 15, 2025.
Shareholders also approved the re-election of Directors George St. Galatariotis, Mihail Polendakov and Ioannis Savvides, who had retired by rotation.
The remunerations report was also approved by the shareholders.
During the meeting, it was resolved that the remuneration of directors for 2025 will be set at €30,000 for the chairman and €25,000 for each board member.
Additionally, a representation allowance of €300 per meeting will be paid for attendance at board and committee meetings.
The meeting concluded with the appointment of PricewaterhouseCoopers Limited as the company’s auditors for 2025.
In addition, the announcement mentioned that the board of directors was authorised to determine the auditors’ remuneration.
