Jerónimo Martins, SGPS, S.A. - EGM 26 November 2020
The EGM is called to approve the distribution of an additional dividend of €0.138 per share to be paid in 2020. In its meeting of 19 February 2020, the Board of Directors resolved to propose the distribution of a dividend of €0.345 per share on 2019 results. However, in light of the uncertainties generated by COVID-19 pandemic, the distribution proposed to the 2020 AGM was reduced by 40%, to €0.207 per share. Having verified the actual impact of the pandemic on the Group's results and its financial strength in the first 9 months of the year, the Board proposes to distribute the remaining dividend to align the annual distribution to the Company's dividend policy.
Taking into account the limited impact of the health emergency on the food retail sector and the current financial situation of the Company, we recommend shareholders to vote FOR.
Jeronimo Martins S.G.P.S. is a holding company. Through its subsidiaries, Co. is engaged as a food distribution company with operations in Poland and Portugal. Co. operates in four segments: Portugal Retail, which comprises the business unit of JMR - Gestao de Empresas de Retalho, SGPS, S.A. (Pingo Doce supermarkets); Portugal Cash & Carry, which includes the wholesale business unit Recheio; Poland Retail, which includes the business unit with the brand Biedronka; and Others, which includes marketing services and representations, restaurants in Portugal, health and beauty retail in Poland, and its retail business in Colombia.
Founded in 1995, Proxinvest is an independent proxy firm supporting the engagement and proxy analysis processes of investors. Proxinvest mission is to analyse corporate governance practices and resolutions proposed at general meetings of listed firms.
Proxinvest main services are :
- Proxy reports
- Definition and monitoring of client customized voting guidelines
- Corporate Governance Data and Rating
- Thematic research
- Engagement support
Proxinvest has been a pioneer and champion of good corporate governance and has grown into a recognised expert in the field.
Proxinvest is independently-owned and only works for investors : Proxinvest does not provide consulting services to the companies it covers, mitigating related risks to its clients and ensuring the independence of our analysis. As a result Proxinvest is able to take a robust, independent, engaged and unconflicted view of the companies in which our clients invest.
As Managing Partner of Expert Corprate Governance Service Ltd (ECGS), Proxinvest has built a large network of corporate governance experts to support clients in corporate governance analysis worldwide.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.