MedservRegis, an integrated logistics specialist primarily servicing the energy (oil and gas) and mining sectors, has announced the approval of a final gross dividend totalling €1.5 million.
The dividend of €0.014758 per share is to be paid by 30th June 2025.
In a company announcement, MedservRegis said that, when taken together with a €1 million dividend (€0.0098389 per share) paid to shareholders in February 2024 with respect to FY2024, the total gross dividend amounts to €0.024597 per share.
MedservRegis resumed dividend payments in February 2024, its first since 2015, following several years of financial struggles.
The company had endured several challenging years marked by sustained losses, a merger, and a broader industry slowdown triggered by the COVID-19 pandemic.
The last dividend issued prior to the hiatus was a record €2 million in 2015.
The resumption of dividend distributions also followed a strategic decision by the company to reduce its share premium account. This reduction was undertaken to offset accumulated losses at the company level, enabling the company to resume profit distributions.
In the company's most recent financial statements, MedservRegis plc posted a profit after tax of €2.09 million, an increase of 62 per cent compared to the €1.29 million recorded in 2023, supported by improved revenues in Malta, the United Arab Emirates and Iraq.
Adjusted EBITDA for the year reached €16.1 million, slightly below the €17.5 million reported in the previous year.
MedservRegis plc operates under various trading names: Medserv in the Mediterranean basin, METS in the Middle East, and Regis in sub-Saharan markets.
The company was formed in 2021 following a merger between Medserv Group and Regis Holdings Limited. It has key positions across different markets, with specialist business acumen in Africa, the Mediterranean, and the Middle East.
