Lordos Hotels (Holdings) Public Ltd announced on Thursday that it has approved a dividend of €0.04 per share, equivalent to 11.76 per cent of the nominal value of the share.

The decision was made during the company’s annual general meeting held on June 25.

The proposed record date for determining shareholders entitled to receive the dividend is Monday, July 7, 2025.

Shares will trade cum-dividend until the end of trading on Thursday, July 3, 2025.

From the beginning of trading on Friday, July 4, 2025, the shares will trade ex-dividend.

Investors who have completed off-exchange transactions recorded in the Dematerialised Securities System by the proposed record date will also be eligible for the dividend.

The proposed payment date is Tuesday, July 15, 2025, with the exact dispatch date to be confirmed in a separate announcement.

The dividend announcement came in tandem with the issuing of an official announcement on the Cyprus Stock Exchange (CSE) related to the company’s profit.

Specifically, Lordos Hotels shared that its financial results for the first half of 2025 are expected to improve compared to the same period in 2024.

At the annual general meeting, nine shareholders were present either in person or via proxy, representing 81.53 per cent of issued shares. The meeting’s agenda covered a number of routine matters.

During the proceedings, shareholders reviewed the management report, the audited financial statements of the parent company, the audited consolidated financial statements, the corporate governance report, and the report of the statutory auditors for the year 2024. The remuneration report was also approved.

The meeting additionally decided on the re-election of board members Christofis Koufaris, Nearchos Ioannou, Ariana Lordou-Anastasiadou, and Adonis Elias, all of whom were retiring by rotation.

The fees of non-executive board members remained unchanged from the levels set by the 2021 annual general meeting. In addition, KPMG was reappointed as the company’s auditor.

At the meeting, group general manager Marios Ellinas stressed the need for realism and ambition as the group confronts both long-term structural challenges and short-term volatility.

“Despite any difficulties, the future of Cypriot tourism remains hopeful, and our Group is well-positioned to actively shape it,” he said.

“With planning, responsibility, and faith in our values, we continue to invest in quality, sustainability, and people,” he added.

Emphasising the shifting demands of modern travellers and the importance of differentiation, Ellinas outlined the group’s strategic priorities: infrastructure upgrades, sustainability initiatives, human capital development, and digital innovation.

“We are investing in customer experience management platforms, smart booking systems, and personalised communication,” he said.

Ellinas explained that the company is also expanding into higher-value markets and accelerating its sustainability credentials.

“We continue to invest in energy efficiency and sustainability projects,” explained Ellinas.

“We’ve achieved the Travelife Gold certification, demonstrating our commitment to environmental protection, social responsibility, and economic sustainability,” he added.

The general manager acknowledged the broader industry risks, saying that “geopolitical instability in the Eastern Mediterranean continues to affect visitor flows.”

He also stated that “careful planning and market diversification are essential. The days of relying on a few key source markets are behind us”.

On the issue of workforce shortages in the hospitality sector, Ellinas was equally candid.

“The tourism sector is facing a shortage of skilled personnel, which affects service quality,” he said. “We need new incentives, better training, and an upgrade to the profession of hospitality.”

He also called attention to climate change and the need for Cyprus to adapt.

“Extreme weather events and rising temperatures are impacting seasonality and destination attractiveness,” Ellinas stated.

“Sustainable tourism development is no longer a choice — it’s a necessity,” he added.

“To our shareholders,” he continued, “thank you for the trust you place in us. We promise to continue working with the same dedication for the benefit of all.”