TX Group adjusts dividend policy
The Zurich-based TX Group is adjusting its dividend policy. The aim is to smooth out fluctuations and provide greater predictability. This move was prompted by a special dividend distribution by its subsidiary, Swiss Marketplace Group (SMG).
After SMG, in which the TX Group holds a 30.75 percent stake, has not paid a dividend since it was founded in 2021, a special distribution totaling 230 million Swiss francs has now been decided. According to a press release issued on Friday, the TX Group will receive CHF 71 million of this amount. This sum will flow into the Group's free cash flow.
TX Group now intends to extend the range of the free cash flow after dividends to minority interests etc. on which its own distribution is based to between 30 and 50 percent. This means that a dividend of CHF 4.00 per share will "definitely" be proposed from the funds available for the current and the following two financial years.
The group under the umbrella company TX Group comprises four independent companies. In addition to SMG, these are Goldbach, 20 Minuten and Tamedia. (SDA/swi)
