On Tuesday, ZABA shares went ex-date. When comparing it to the closing price, the stock decreased by 5.4%, which is lower than the DY of 7.5%. Yesterday, the price further decreased by 2.6%, with the total share price decreasing roughly equivalent to the DY.

This refers to the previously approved dividend of EUR 1.4 per share or a dividend yield of 7.5%. On the market closing price on Tuesday, the stock declined by 5.2%, which is lower than the aforementioned dividend yield. However, yesterday, ZABA’s share price plunged further by 2.6% with the total share price decreasing amounting roughly to the DY.

However, we note that the ex-date was changed to 16 April 2024 instead of the initially proposed 17 April 2024, as yesterday was a non-working day in Croatia due to the elections. The payment date is set for 13 May 2024.

In the graph below, we are bringing you a 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.

To put things in perspective, since the beginning of the year, ZABA’s share price increased by as much as 13%, even after the aforementioned combined decline of slightly more than 7.5% (DY amount) price decrease, which is attributed to the ex-date – as without the dividend payment incentive for investors to invest in a stock vanishes.

Dividend per share (EUR) & dividend yield (%) (2012 – 2024)

Source: ZSE, InterCapital Research