**Petrolina Board to Review First-Half Results and Consider Second Interim Dividend**
Petrolina (Holdings) Public Ltd has announced that its board of directors will convene on September 28, 2026, to review the company’s financial performance for the first half of the year and discuss the potential for a second interim dividend. The meeting is scheduled to take place at 10:30 AM at the company's offices in Larnaca.
During this board meeting, the directors will examine the results for the six months ending June 30, 2026, and will also deliberate on the possibility of declaring a second interim dividend for the current financial year. The outcomes of this meeting, including the reviewed condensed interim consolidated financial statements, will be disclosed to the public prior to the commencement of trading on the Cyprus Stock Exchange (CSE) on September 29, 2026.
Earlier this year, Petrolina distributed an interim dividend of €0.01 per share, which was approved by the board in July. This dividend represented a yield of 2.94 percent and was allocated to shareholders who were registered with the CSE as of July 30. The shares began trading ex-dividend on July 29, and the payment was executed on August 28.
In addition to the interim dividend, Petrolina also finalized its 2025 final dividend payment in July. Shareholders received €0.02 per share following approval during the company's annual general meeting. This 5.8 percent final dividend was distributed via the CSE’s established dividend distribution procedures, ensuring that shareholders managed through CSE members received the net amounts directly into their accounts.
Beyond dividend discussions, the company has been actively pursuing diversification into property development. In July, Petrolina announced the initiation of operations for five special purpose companies aimed at developing various phases of its ambitious Land of Tomorrow property project. This initiative is contingent upon receiving the necessary regulatory approvals and licenses.
Petrolina holds varying stakes in these five companies, ranging from 10 percent to full ownership. The planned developments include residential towers, an ecovillage, a resort, a boutique development, and a business hub. This strategic move follows the company's decision to relocate its storage facilities to the Vasiliko area, allowing for a broader focus on property development.
The Land of Tomorrow project is set to encompass approximately 300,000 square meters of mixed-use development, which will feature residential, retail, dining, hotel, conference, office, and event facilities, as well as green and public spaces. The project is expected to be executed in phases over a timeline of 12 to 15 years, with construction of the first phase anticipated to commence in late 2026 or early 2027, aiming for completion around 2028 or 2029.
As Petrolina prepares for its upcoming board meeting, shareholders and market analysts alike will be keenly observing the company's financial performance and strategic decisions regarding dividends and property development initiatives.