At the share price before the announcement, this would amount to a DY of 3.8%. The ex-date is set for 18 December 2023.
NLB announced the convocation of its GSM, which will be held on 11 December 2023. Inside the announcement, they also proposed the dividend payment of EUR 55m, which on a per share basis, would imply a gross dividend of EUR 2.75. At the share price before the announcement, this would amount to a DY of 3.8%. The dividend would be paid out from the 2022 profit, which amounted to EUR 447m. This would imply a payout ratio of app. 12.3%.
It should be noted that this dividend proposal represents the 2nd dividend tranche that NLB proposed (and for the first one, approved) this year. Back in June 2023, NLB already paid out EUR 55m, also EUR 2.75 DPS to shareholders. The DY for that payment, based on the share price back then amounted to 3.9%. Combined, this would mean that the overall DY amounted to 7.7%.
For this dividend proposal, the ex-date is set for 18 December 2023, while the payment date is set for 19 December 2023. In total, from the period from 2022-2025, NLB plans to pay out EUR 500m in the form of dividends, and if this dividend payment is approved, that plan is certainly on track to be completed.
Below we provide you with NLB’s historical dividends per share and dividend yields.
NLB dividend per share (EUR) and dividend yield (%) (2019 – 2023)*
Source: NLB, InterCapital Research
*2023 DPS and DY also includes the proposed numbers, subject to approval
