At the current share price, the dividend yield for the regular share (ADRS) is 3.6%, while for the preferred share (ADRS2) it amounts to 4%.

Adris published an invitation to the General assembly in which they proposed a payout of HRK 298.5m which translates into a dividend of HRK 18.2 per share. At the current share price, the dividend yield for regular shares is 3.6%, while for the preferred shares it amounts to 4%. The proposed dividend shows further dividend growth, which can be observed in the graph below. The higher dividend came on the back of strong operational and financial results posted by the company in 2018. Note that besides dividends, Adris frequently uses share buyback to return cash back to their shareholders. As a reminder, in February, Adris concluded a share buyback worth HRK 58m, which can be read about here.

The dividend will be paid out on July 19th 2019, while the ex-dividend date is set on June 27th.

In the graphs below, we are bringing you a historical overview of the company’s dividend per share and dividend yield for both regular and preferred share.

In Q1 2019, the company observed an increase in operating revenues of 2% YoY, an increase in EBITDA of 16.3% and a net loss of HRK 0.55m (-77%).

As Optima Telekom published their Q1 2019 report, we are bringing you the key takes from it. According to the report, in Q1, the company observed an increase in operating revenues of 2%, amounting to HRK 136.7m. The increase in revenues could mostly be attributed to a rise in interconnections by 23.9% which is a consequence of the increased volume of low-profit international transit. The company also observed a slight increase in revenues from multimedia of 2.9%.

On the other hand, Optima Telekom recorded a decrease in revenues from public voice services of 10.5%, which is the second largest source of revenue for the company. However, note that this is in line with the global trend of decreasing use of the public voice service.

When observing the company’s EBITDA (before one time items after lease), it amounted to HRK 28.6m, which represents an increase of 16.3% YoY. Note that this EBITDA represents an operational result which is neutralized with IFRS 16 effect.

Going further down the P&L, the company reported an increase in EBIT by HRK 4.4m (+117%), amounting to HRK 7.8m. Such an increase in EBIT could be attributed to both above-mentioned increase in sales revenue and a decrease in operating expenses of 1.5%.

Despite the positive contribution from the operating result in Q1 2019, Optima Telekom recorded a net loss of HRK -0.55m, which represents a reduction in loss of 77%. It is also noteworthy that the company’s capex in Q1 amounted to HRK 29.7m. Of that, HRK 15.2m was invested in expanding the customer service.

Best Performing Share within CROBEX in Q1

In Q1, Optima Telekom’s share price increased by 68.6%, making it the best performing share withing the CROBEX index. As of today, the company’s share price increased by 64.5% YTD. Note that the growth did not only come as a result of improved results, but also due to expectations that HT will have to sell the company by 2021, with the process required to start in 2020.

OT YTD Share Price Performance (HRK)

At the current share price, the dividend yield (for both dividends) would be 18%.

Hrvatski Telekom published a document of all counterproposals received from shareholders on General Assembly decisions. One of them is a counterproposal from Raiffeisen Pension Fund Management Company for a dividend of HRK 990.1m to be paid out from the profit generated in 2018 to the shareholders. This would translate into a dividend of HRK 12.19 per share.

Besides that, Raiffeisen also counterposed an additional dividend of HRK 1.4bn, which would translate into a dividend of HRK 16.94 per share. Note that the ex-dividend date for both proposals is 20 May 2019. At the current share price, the dividend yield (for both dividends) would be 18%.

As a reminder, HT initially proposed a dividend of HRK 10 per share which represented a strong increase compared to 6 HRK in previous years. Of the HRK 10 per share, HRK 7 per share was proposed to be paid out of 2018 net profit and, in addition, HRK 3 per share was proposed to be paid following improved economic and investment climate in Croatia.

In the graphs below, we are bringing you a historical overview of the company’s dividend per share and dividend yield, with the counter proposed dividend for 2019.