Logicom approves 10 cent dividend, key board changes

Logicom Public Ltd on Friday announced the approval of a dividend payment of 10 cents per share, representing 29.4 per cent of the nominal share value, following decisions taken at its annual general meeting (AGM) held on June 19 in Nicosia.

The proposed record date for determining shareholders entitled to receive the dividend is July 3, 2025, with transactions completed by the end of trading on July 1, 2025, included in the record.

As a result, shares will trade cum-dividend until July 1, 2025, and ex-dividend from the start of trading on July 2, 2025.

Off-exchange transactions settled in the Dematerialised Securities System by the record date will also confer dividend entitlement.

The proposed dividend payment date is July 18, 2025, with the exact dispatch date to be announced separately.

The AGM was attended by 18 shareholders in person and 3 shareholders by proxy, representing a total of 68.72 per cent of the company’s issued share capital.

During the meeting, shareholders were presented with the management report, the corporate governance report, and the audited financial statements of the parent company.

They also examined the audited consolidated financial statements of the group, as well as the report of the statutory auditors for the year 2024.

Moreover, shareholders had the opportunity to raise questions on all agenda items before proceeding with voting.

The meeting approved several ordinary resolutions, including the adoption of the advisory non-binding vote on the 2024 remuneration report, which appears on pages 33 and 34 of the 2024 annual report.

The payment of the 10 cent dividend per share was formally approved following the proposal of the board of directors.

Shareholders re-elected Christoforos Hadjikyprianou, Varnavas Irinarchou and Andreas Constantinides to the board of directors, following their scheduled rotational retirement.

Additionally, Marianna Pantelidou Neophytou and Charbel El Fakhoury retired from the board and did not seek re-election.

The AGM also approved the remuneration policy for board members, which is published on the company’s website and will take effect from January 1, 2025.

KPMG Limited was reappointed as the company’s statutory auditors until the next AGM, with the board authorised to determine their remuneration.

What is more, three special resolutions were also approved. The first concerned amendments to article 81 of the company’s articles of association.

The second involved amendments to articles 94, 95 and 99 of the articles of association.

Finally, the third resolution granted the board of directors authorisation to proceed with share buybacks.