At the share price before the announcement, the DY would amount to 1.1%. The ex-date is set for 15 January 2024.
On Monday, One United Properties OGSM and EGSM were held. At the OGSM meeting, the dividend proposal has been approved. According to the proposal, RON 38m shall be paid out from the H1 2023 consolidated net profit of RON 287.9m, which would imply a payout ratio of 13%. On a per-share basis, this would mean that the gross dividend amounts to RON 0.01 DPS, with a DY of 1.1%.
As a reminder, ONE maintains a policy of paying out up to 35% of distributable net profit, in 2 tranches each year. In 2023, the first tranche was proposed back in March, and approved in April, while this represents the 2nd tranche this year.
Furthermore, the ex-date is set for 15 January 2024, while the payment date is set for 31 January 2024.
Besides approving the 2nd dividend tranche, the company also approved its Buyback program. The program will be executed at the min. price of RON 0.2 per share and a max. price of RON 1.5 per share. The total value of the program amounts to RON 15m, while the maximum number of shares bought is 10m.
Further, shareholders approved contracting for certain bank loans, such as a credit facility of EUR 30.5m for the financing or refinancing related to the One Gallery project, a credit facility of EUR 30 m for the project One High District and finally Credit facilities of EUR 30m have also been approved to be contracted by One Lake District and One Lake Club branches for the projects they are running.
Below we provide you with a historical overview of the Company’s dividends per share and dividend yields.
One United Properties dividend per share (RON) and dividend yield (%) (2021 – 2023)
Source: One United Properties, InterCapital Research
