PRIM commits to increasing its dividends by 60% and launches a new share buyback plan

Prim reiterates its commitment to improving overall shareholder remunerations for the 2021 financial year. At its first Shareholder and Investor Day, held at the new corporate headquarters in Madrid, the chair, Lucía Comenge, set out the general outlines of the new remuneration method, which includes the distribution of a dividend in three separate payments. The estimated sum of this would be over 60% more of the amount paid in 2020 and would also involve the allocation of 67% of net profits to shareholder remunerations.

Following on from this announcement, the vice-chair, Jorge Prim, went on to explain the launch of a second share buyback plan, which will begin on 15 March and will last for eight months. The total amount of this new plan will be either of the following: 80,000 shares, equivalent to 0.46% of the company’s capital stock, or 1,000,000 euros.

During the course of the day, the Managing Director, Fernando Oliveros, outlined the objectives that have been set in order to continue to progress with this Strategic Plan over the next financial year 2022, which are summarised below:

  • To continue with the acquisition strategy
  • The implementation of efficient margin management
  • Investing, but taking care of the returns
  • To double down on digitalisation efforts
  • The gradual transformation of the organisation

This is all with the ultimate aim of achieving the Group’s grand strategic aspiration, which is “to become the most valuable and recognised brand in Medical Technology, Mobility and Healthcare, being a leader of innovation, growth, ethical principles and market value”.

Oliveros concluded his speech by highlighting the Company’s results from the past year which “have allowed us to recover and exceed pre-pandemic levels”.

For his part, the Chief Financial Officer, Alberto Iriondo, detailed the keys behind the Group’s growth, both organic and through acquisitions, and also emphasised one of the company’s strengths; its financial solidity, which even increased in 2021.

Finally, Cristina de Anduaga, an executive in the ESG Compliance area, announced the implementation of an ESG (Environmental, Social Responsibility and Governance Management) Master Plan for the 2022/2025 period. The Company considers this to be necessary to strengthen its creation of sustainable value. The plan will build on the Group’s contributions to Sustainable Development Goals and the 2030 Agenda, with a special emphasis on: health and well-being, gender equality, proper employment and economic growth, responsible production and consumption, climate action and the building of partnerships to achieve these goals.

This post is also available in: Spanish