Société Atelier du Meuble Intérieurs (SAM) Announces Financial Results and Dividend Proposal
The Board of Directors of Société Atelier du Meuble Intérieurs (SAM) has approved the individual and consolidated financial statements as of December 31, 2024. The social accounts show a total balance of 28,850 MTND and a net profit of 2,671 MTND. Furthermore, it has decided to convene an Ordinary General Meeting on June 24, 2025. The proposed dividend is 0.450 TND per share.
Shareholders have also been convened to an Extraordinary General Meeting on September 2, 2025, to deliberate on the proposal to increase the company's capital through the incorporation of reserves amounting to 0.523 MTND and the issuance of 523,448 new shares, attributed free of charge at a ratio of 8 new shares for 85 old shares. The new shares will bear interest from January 1, 2025.
Double Remuneration Strategy for Tunisian Investors The double remuneration strategy is perfect for the profile of Tunisian investors on the market. In this case, the approach followed will allow neutralizing the surprising effect of the 2024 result's 39.1% annual decline. The company's turnover for the year was up 4.0% at the end of 2024 compared to 2023, reaching 25,624 MTND. Moreover, the first half-year recorded a 34.2% to 1,930 MTND. The beginning of 2025 was average on the local market, with a 1.2% decline in revenue in the first quarter, reaching 5,573 MTND.
Proposed Dividend and Yield The proposed dividend ensures an interesting net yield of 6.7% as of yesterday's closing. Investors should appreciate this news and opt to hold onto the share. If we add a free attribution in September, the behavior on the market should be relatively disconnected from its operational performances. Meanwhile, if management succeeds in improving profitability, market confidence will be even stronger. A smart strategy that benefits all parties.
