At the current share price, dividend yield is 5.3%
The Management Board and the Supervisory Board of Triglav will propose to this year’s GSM that part of accumulated profit be distributed for dividend payment, unless the Insurance Supervision Agency opposes this proposal by the time the GSM is convened.
As a reminder, the regulator recently announced that due to the uncertain situation regarding the spread of the COVID-19 pandemic and the consequent unclear impacts on the economy and the insurance industry, the Agency expects that until 30 September 2021 insurance, reinsurance and pension companies (supervised entities) suspend dividend payments and undertake no irrevocable commitments to pay out dividends. The Agency exceptionally allows any of the supervised entities not to comply with this recommendation. You can read more about it here.
Both the Management Board and the Supervisory Board assess that the bases for the dividend payment are appropriate and thus, in accordance with the Company’s dividend policy, propose a dividend of EUR 1.70 gross per share. The total amount of dividends of EUR 38.65m will represent 53% of the Company’s consolidated net profit for 2020 and. We note that the company has been a consistent dividend payer prior to the pandemic, paying out EUR 2.5 per share for 5 consecutive years (as visible on the graph below).
At the current share price, dividend yield is 5.3%.
The dividend is subject to approval at the GSM, which should take place on 25 May 2021.
Dividend per Share (EUR) and Dividend Yield (%) (2014 – 2021)