At the share price before the announcement, this would amount to a DY of 5.3%. The ex-date is set for 24 June 2024.

NLB’s Supervisory and Management Board proposed the distribution of profit to the General Shareholders Meeting, which will be held on 17 June 2024. According to the press release, NLB proposed EUR 110m as the dividend payment, which on a per-share basis, would imply EUR 5.5 DPS. This represents a 40% payout ratio from 2023 net profit. At the share price before the announcement, this would mean that the DY amounted to 5.3%.

As a reminder, NLB already communicated in their outlook their plan to pay out EUR 220m in the form of dividends in 2024, and they also noted that they will do so in 2 tranches, both, of course, to be approved at the 2 General Shareholders Meetings (the first one being the one mentioned above, while the 2nd will be held in Autumn 2024). As such, the EUR 110m (5.5 DPS) dividend proposal is only the first of such tranches. In total then, NLB is set out to play EUR 11 DPS in 2024 (a 100% increase YoY in an absolute amount!).

Due to a strong financial position and profitability, NLB decided to increase it’s expected dividend payment to 40% of net profit from the previous year, compared to the initially communicated EUR 500m in the form of dividends in the 2022 – 2025 period. The ex-date is set for 24 June 2024, while the payment date is set for 26 June 2024.

Below we provide you with the historical dividends per share and dividend yields of the Company.

NLB dividends per share (EUR) and dividend yields (%) (2019 – 2024)

Source: NLB, InterCapital Research