At the share price before the announcement, this would amount to a DY of 5.3%. The ex-date is set for 24 June 2024.

NLB’s Supervisory and Management Board proposed the distribution of profit to the General Shareholders Meeting, which will be held on 17 June 2024. According to the press release, NLB proposed EUR 110m as the dividend payment, which on a per-share basis, would imply EUR 5.5 DPS. This represents a 40% payout ratio from 2023 net profit. At the share price before the announcement, this would mean that the DY amounted to 5.3%.

As a reminder, NLB already communicated in their outlook their plan to pay out EUR 220m in the form of dividends in 2024, and they also noted that they will do so in 2 tranches, both, of course, to be approved at the 2 General Shareholders Meetings (the first one being the one mentioned above, while the 2nd will be held in Autumn 2024). As such, the EUR 110m (5.5 DPS) dividend proposal is only the first of such tranches. In total then, NLB is set out to play EUR 11 DPS in 2024 (a 100% increase YoY in an absolute amount!).

Due to a strong financial position and profitability, NLB decided to increase it’s expected dividend payment to 40% of net profit from the previous year, compared to the initially communicated EUR 500m in the form of dividends in the 2022 – 2025 period. The ex-date is set for 24 June 2024, while the payment date is set for 26 June 2024.

Below we provide you with the historical dividends per share and dividend yields of the Company.

NLB dividends per share (EUR) and dividend yields (%) (2019 – 2024)

Source: NLB, InterCapital Research

Yesterday, Valamar Riviera’s shares went ex-date. Compared to the closing price, the stock decreased by 4.2%, which is slightly below the DY of 4.7%.

The ex-date refers to the previously approved dividend of EUR 0.22 DPS, or a DY of 4.7%. On the market closing price yesterday, the stock declined by 4.2%, which is slightly lower than the DY of 4.7%.

As a reminder, Valamar Riviera actually proposed one of the highest dividends/dividend yields this year as compared to other tourism companies, on the back of continued growth and stable operations of the Company, after the shock that the tourism companies took when the pandemic took place in 2020 and 2021. Combined with continued investments and upgrades to its portfolio, the Company has been able to increase its profitability even though in general, the number of tourist arrivals and nights remained pretty stagnant in 2022 and 2023, especially when compared to 2019, the last “normal” year before the pandemic, and also the “record” year that the numbers are usually compared to.

In the graph below, we are bringing you a historical overview of the company’s dividend per share and dividend yield.

Valamar Riviera dividend per share (EUR) and dividend yield (%) (2015 – 2024)

Source: Valamar Riviera, InterCapital Research

At the share price before the announcement, this would imply a DY of 10.9%. The ex-date is set for 7 June 2024, while the payment date is set for 28 June 2024.

Yesterday, Hidroelectrica held its GSM, during which the proposal for the distribution of profit was approved, among other proposals. According to the resolution, RON 6.29bn will be paid in the form of dividends, from the 2023 net profit. This would imply a DY of over 99% on the consolidated net profit basis for the year.

On a per-share basis, this would imply a dividend of RON 13.99, as well as a DY of 10.9% at the share price before the announcement. The ex-date is set for 7 June 2024, while the payment date is set for 28 June 2024.

At the share price before the announcement, this would imply a DY of 5.7%. The ex-date is set for 16 May 2024.

BRD held its GSM meeting, at which the distribution of 2023 profit was approved. According to the press release, BRD approved payment of RON 817.1m, representing 50% of 2023 retained earnings. On a per share basis, the gross dividend would amount to RON 1.17250. At the share price before the initial announcement, this would imply a dividend yield of 5.7%.

The ex-date is set for 16 May 2024, while the payment date is set for 26 January 2024. Below you can see the historical dividends per share and dividend yields of BRD Bank.

BRD dividends per share (RON) and dividend yields (%) (2016 – 2024)

Source: BRD, InterCapital Research

Here you can find the dates for the upcoming events of the regional companies

Due to the nature of these events, they are subject to change (might be postponed or canceled).