The board of directors of Tubacex has informed this Monday that the maximum amount foreseen for its capital increase will amount to 6.5 million euros. At the same time, the company has estimated that the gross amount of its flexible dividend will be around five euro cents per share.
In a communication sent to the National Securities Market Commission (CNMV), the company has detailed that the new profit distribution scheme "Tubacex Flexible Remuneration" will offer shareholders three options that can be combined: receive new shares, sell their free allocation rights on the market, or receive the dividend in cash.
The single period to choose a modality and for the negotiation of free allocation rights on the Stock Exchanges of Madrid, Barcelona, Bilbao, and Valencia will take place from June 12 to June 26, inclusive.
According to the calendar provided by Tubacex, on June 9, the number of rights needed to obtain a new share will be announced, as well as the definitive amount of the gross dividend. The cash payment to shareholders who opt for this alternative will be made one month later, on July 9, while the start of ordinary trading of the new shares issued is scheduled for July 10.