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Trendlines to adopt dividend policy from July

Felicia Tan
Felicia Tan6/14/2021 07:07 PM GMT+08  • 2 min read
Trendlines to adopt dividend policy from July
Shares in Trendlines closed 0.4 cent higher or 3.9% up at 10.8 cents on June 14.
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Israel-based start-up incubator Trendlines Group has adopted a dividend policy effective July 1.

The move comes after the group has reviewed the economic outlook and its potential financial prospects, it stated in a June 14 announcement.

Dividends will be paid from the company’s net exit proceeds, referring to the cash that was actually received by the group during that particular financial year, including royalties.

The group adds that any net exit proceeds received during any financial year will first be applied to bring the company’s year-end cash balance to US$15 million ($19.9 million).

Once that cash goal is met, at least 20% of the remaining net exit proceeds will be paid as part of the company’s dividends, provided that the “calculated amount is at least US$1 million”.

For instance, should the group have net exit proceeds of US$20 million and a year-end cash balance of US$25 million, the group would pay a dividend of at least US$2 million, which amounts to 20% of the net exit proceeds in access of the US$15 million cash goal.

The dividend payment will be subject to the board’s approval and the fulfilment of the relevant conditions by the Israeli Companies Law.

Shares in Trendlines closed 0.4 cent higher or 3.9% up at 10.8 cents on June 14.

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