**SITS Decides Not to Distribute Dividend for 2024 Despite a Positive Result of 1,035 MTND
The Board of Directors has decided not to distribute a dividend for the 2024 fiscal year, despite a positive result of 1,035 MTND.
It's been years since SITS last distributed a dividend to its shareholders. The last remuneration was on August 4, 2016. The company experienced difficult years after the post-2011 boom, during which demand from locals and foreigners (Libyans in particular) skyrocketed. Subsequently, it managed to gradually liquidate its stock of constructions.
The entry of Partner Investment, owned by PGH, into the capital has given new life to the promoter. The contribution is not only technical and financial, but also strategic. The accounts have been rectified, and SITS has, for example, zero net financial charges, which is uncommon in the sector.
If the proposed allocation of profits, as stated in the agenda of the Ordinary General Assembly of Shareholders to be held on June 3, 2025, is approved, the reported results will be 10,836 MTND, which represents a potential for distribution in the coming years.
As we specified yesterday, the company will embark on a new cycle, particularly with the success of its residential project in La Soukra. We believe that after the commercialization of this project, it will reward its shareholders. According to our estimates, this will take place in 2026, therefore in two years. In the meantime, those who want to invest in a title that has real growth potential can buy it now.
