Yesterday, Valamar shares went ex-date. When comparing it to closing price yesterday, the stock decreased by 4.5%, which is slightly higher than the DY of 3.6%.

This refers to the previously approved dividend of HRK 1.2 per share or a dividend yield of 3.6%. On the market closing price yesterday, the stock declined by 4.5%, which is slightly higher than the dividend yield.

As a reminder, Valamar reported H1 results with an increased top line, as well as higher OPEX, given the current inflationary pressures. Adjusted EBITDA increased by 47%, amounting to HRK 28.9, but bottom line profitability has suffered nevertheless.

Considering that Valamar did not pay out a dividend since 2019, in 2022 Valamar returned to dividend payment as soon as the conditions allowed. The 2022 dividend amount was 20% higher than 2019, while it was the same as the dividend proposal made for 2020 that had to be withdrawn due to pandemic and deterioration of cash position.

In the graph below, we are bringing you the historical overview of the company’s dividend per share and dividend yield. Note that the yields were calculated based on the closing price the day before the initial dividend proposal. The payment date is set for 28 September 2022.

To put things in perspective, since the beginning of the year, Valamar’s share price fell by 10% and only a 3.6% of price decrease can be attributed to the ex-date as without the dividend payment incentive for investors to invest in a stock vanishes.

Dividend per share (HRK) & dividend yield (%) (2015 – 2022)