For the third year in a row, Lahti-based PHP Holding Oy will distribute dividends of more than EUR 200 million.
The dividend per share is one thousand euros, the Annual General Meeting decided last week. The company employs one person – the CEO.
The wealth of an investment company is real public wealth. It is based on the provincial Telephone Association, which was owned by the provincial companies and ordinary citizens who own the association’s membership card.
When the association became a limited company in the early part of the millennium after the cooperative stages, the membership book became two company shares.
A few years ago, the company sold its shares in the telecom operator DNA to the Norwegian Telenor Group. The purchase price was over EUR 700 million.
The investment company DNA Holding has distributed dividends in excess of EUR 820 million. Over the past three years, based on the old membership book, the owner has received a dividend of EUR 6,460 on two shares – last year’s dividend is EUR 2,000.
In the early days of the company, in 2002, the dividend was a modest nine euros per share.
The company had a total of about 80,000 owners. By 2021, the number of shareholders has decreased to 38,000 shareholders.
A decade ago, 500 euros were paid for old membership books, but since then, offers have multiplied.
The shares are still in strong demand and every autumn, well in advance of the dividend decision, shareholders will receive purchase offers in their mailboxes. To date, investors have offered € 2,000 a piece.
As an investment, the share has been good. Many of the current owners have inherited their shares, as the history of the provincial Telephone Association is over 100 years old.
CEO of the company Ari Turunen calculates that the original owners invested an average of less than € 200 in capital per share.
– It is often said that the best return is obtained through long-term ownership. In this case, too, it is true.
– After the spring dividend distribution, there will still be more than EUR 200 million of distributable funds.
The ownership structure has changed over the years and now about half of the share capital is in the pockets of investors.
PHP Holding Oy also owns a slice of Finda Telecoms Oy. PHP Holding Oy and Finda Oy merged their telecommunications and investment operations with Finda Telecoms Oy in 2019. The new company’s assets are approximately 1.3 billion. Finda owns 82 percent of the shares in the merged company and PHP about 18 percent.
Source site www.is.fi