Today, we decided to present you with a brief analysis of cash per share of Slovenian Blue Chip companies.

In February and March, most Slovenian companies published their FY results, so we decided to update our cash per share analysis for chosen blue-chip companies in Slovenia that did already publish FY results. The analysis is done in order to see the strength of the balance sheet and how liquid selected companies are. This figure, cash per share, as a percentage of a company’s share price, can give us more insight into the company’s strength in returning the money to shareholders (either through dividends or buybacks), paying down debt, etc. We are excluding financial companies out as this measure as is not adequate, while Telekom Slovenije will publish their annual report on 21 April.

Cash per Share of Slovenian Blue Chips (EUR)

It is important to note that looking solely at cash per share of the company could lead to a misleading conclusion without taking into consideration the company’s indebtedness, which you can find here.

A high level of cash per share indicates a solid performance of the company, reassuring the shareholders that the company is operating with “enough room” and liquidity to cover any potential difficulties and that the company has adequate capital.

Cash Per Share as a Percentage of the Current Share Price

As visible in the graph, out of chosen Slovenian companies that published FY results, Cinkarna Celje operates with the highest cash per share as a percentage of their current share price of 26.7%, while their cash per share amounts to EUR 59.8. Krka comes next with 10.4% and Petrol with 9%.

On the flip side, Luka Koper has the lowest cash per share as a percentage of its current share price (EUR 24.60) of 5.1%. Luka Koper cash per share amounted to EUR 1.3.

Cash position of Slovenian Blue Chips (EUR m)

At the current share price, dividend yield is 9.5%

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.

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 gross dividend of EUR 3.70 per share. The total amount of dividends of EUR 84.1m will exceed 50% of the Company’s consolidated net profit of the previous year. 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 9.5%.

The dividend is subject to approval at the GSM, which should take place on 24 May 2022, while the ex-date is still to be announced.

Dividend per Share (EUR) and Dividend Yield (%) (2014 – 2022)

At the closing price before the announcement, this would amount to a DY of 4.6%. The ex-date is set for 6 June 2022.

Nuclearelectrica Board of Directors has announced the proposal for the distribution of profit for the 2021 financial year. According to the strategy of the Company, 50% of the profit will be distributed as dividends. This would amount to a value of gross dividends of RON 595.93m, translating into a gross dividend of RON 1.97559234 per share. At the closing price before the announcement, this would amount to a DY of 4.6%.

The record date is set for 7 June 2022, the ex-date is set for 6 June 2022, while the dividend payment date is set for 24 June 2022. The proposed dividend is subject to approval at the OGMS, which is to be convened on 28 April 2022.

Nuclearelectrica Dividend Per Share (RON) and Dividend Yield (%) (2016-2022)