At the share price before the announcement, this would amount to a DY of 1.92%. Ex-date is set for 4 May 2023, while the payment date is set for 16 May 2023.
After its Supervisory and Management Board meetings, the Company announced both of the Board’s proposals for the distribution of profit. In total, they proposed EUR 0.7 DPS, which at the share price before the announcement would lead to a DY of 1.92%.
It should be noted that today, Arena is also set to announce its FY 2022 results, and the combination of the results and the dividend proposal expectation led to an increase in the Company’s share price of 7.69%. If this price increase did not happen, the DY would amount to 2.07%.
The ex-date is set for 4 May 2023, while the payment date is set for 16 May 2023. Of course, the proposal is subject to approval by the GSM, which will be held on 27 April 2023. As a reminder, the last time Arena Hospitality Group paid out a dividend was back in 2019 when it paid HRK 5 DPS (app. EUR 0.66 DPS), which back then gave investors a DY of 1.5%. In 2020 and 2021 there were no dividend payments due to the COVID-19 pandemic, and more specifically, due to the fact that companies that received COVID-19-related government support could not pay out the dividends, the support that Arena received as well.