Yesterday, Telekom Slovenije approved the initial dividend proposal of EUR 6.2 DPS, with a DY of 10.2% at the share price before the announcement. The dividend payment will be made in two tranches, while the counterproposal from VZMD was not voted upon as the initial proposal was approved.

Telekom Slovenije held its General Shareholders Meeting, and yesterday published the resolutions of the Meeting, including the distribution of profit proposal. Accordingly, EUR 40.2m of the distributable net profit from 2022 shall be paid out in the form of dividends, implying a payout ratio of almost 100%. On a per-share basis, this would imply a dividend of EUR 6.2 DPS, with a DY of 10.2% at the share price before the announcement.

The dividend shall be paid out in two installments. The first instalment of EUR 3.10 DPS shall be paid out on 22 March 2024 (payment date), with the ex-date set for 20 March 2024. The 2nd dividend installment, also set at EUR 3.1 DPS, shall be paid out on 23 August 2024 ( payment date), while the ex-date is set for 21 August 2024.

Telekom Slovenije dividend per share (EUR) and dividend yield (%) (2010 – 2024)

Source: Telekom Slovenije, LJSE, InterCapital Research

It should also be noted that the counterproposal received from VZMD, which asked for the dividend payment to be made in lump sum, instead of split into two to avoid extra costs, has not been voted upon. The reason is the fact that the initial proposal has been voted on and approved, and no vote on the counterproposal was then needed.