Eleving Group announces a dividend policy

The Group's Director and Supervisory Board, on July 30, 2024, approved a new official dividend policy aiming to pay semi-annual dividends with a payout ratio of 30-50%.

As stated in the policy, shareholders can expect dividend payouts two times a year in the form of interim (calculated on the unaudited six-month financials) and annual dividends (calculated on the audited twelve-month statements).

The dividend payout ratio will depend on the post-dividend equity ratio. The equity ratio is calculated by dividing equity by total assets. The equity ratio (post dividends) must be above 25% for dividends to be paid to investors with a 50% payout ratio.

“Following the best corporate governance and business transparency practices, we have approved a new dividend policy, the main goal of which is to reward those who have put trust in our business model and the management. We are now strong enough to share our success on a more regular basis. For us, the new policy gives a clear dividend payout framework, considering the business needs, economic conditions, and our desire to bring more value to shareholders. It is worth noting that the policy complies with our financial covenants related to other Group’s capital markets commitments and is a focal part of a well-thought long-term strategy,” on the new policy comments Modestas Sudnius, the CEO of Eleving Group.

About Eleving Group 

Eleving Group has driven innovation in financial technology around the world since its foundation in Latvia in 2012. As of today, the group operates in 16 markets and 3 continents, encouraging financial inclusion and upward social mobility in underserved communities around the globe. Eleving Group has developed a multi-brand portfolio for its vehicle and consumer finance business lines, with around 2/3 of the portfolio comprising secured vehicle loans and mobility products, with Mogo as the leading brand, and around 1/3 of the portfolio including unsecured consumer finance products, with Kredo and Tigo as the segment’s flagship brands. Currently, 57% of the group's portfolio is located in Europe, 30% in Africa, and 13% in the rest of the world. 

The Group's historical customer base exceeds 660,000 customers worldwide, while the total volume of loans issued goes beyond EUR 1.8 billion. With headquarters in Latvia, Lithuania, and Estonia and a governance structure in Luxembourg, the Group ensures efficient and transparent business management, powered at the operational level by 2720 employees. For two consecutive years, the Group was listed among Europe’s 1000 fastest-growing companies published by the Financial Times in 2020 and 2021. 

Read more: www.eleving.com