At the share price a day before the proposal, dividend yield is 3.6%. Ex-date is 8 June 2021.

At the yesterday’s GSM, the shareholders adopted the initial proposal of the Management and Supervisory boards to use EUR 13,173,041.60 of the profits for dividends. This translates into a dividend of EUR 0.85 per share.

Such a dividend proposal represents a payout ratio of 23.4%. We note that such a payout ratio is below the strategic plan for 2020 – 2022 (payout ratio between 35% and 45%). However, the company noted that based on the Agency’s strictest criterion, the dividend must not exceed the average dividend paid in the period 2017–2019, which is EUR 0.85 per share.

We note that the ex-date is 8 June 2021.The Group notes that the amount of the dividend is in line with the recommendations of the Insurance Supervision Agency and does not put at risk the financial position, i.e. the solvency and liquidity, of the Company or Group.

At the share price a day before the proposal, dividend yield is 3.6%. However, at the current share price, dividend yield is 3.2%.

Dividend per Share (EUR) and Dividend Yield (%) (2014 – 2021)