At the current share price, dividend yield is 4.5%. Ex-date is 22 December.
Earlier this morning, NLB Group published the convocation to the GSM according to which the Management and the Supervisory Board proposed a dividend distribution of EUR 67.4m. This translates into a dividend of EUR 3.37 per share, indicating a dividend yield of 4.5% per share.
We note that the ex-date is 22 December, while the dividend is subject to approval at the GSM which will be held on 16 December 2021.
We note that the Management of the company was quite vocal about the potential additional dividend payment in Q4, so the news does not come as a surprise. As a reminder, the company already paid out EUR 1.24 this year, in two installments. To read more about it click here.
Assuming the dividend approval, the company will have paid out EUR 4.61 per share in 2021. This is in line with the initially communicated dividend payment by the Management and is in line with our estimates as well.
In October, SBITOP had an increase of 1.05%, ending the month at 1,178.89 points.
The Ljubljana Stock Exchange (LJSE) has published its trading statistics for October 2021, showing an equity turnover of EUR 22.4m. This translates into an average daily turnover of EUR 1.07m (-3.6% MoM).
Of the total value that was traded in this period (excluding block transactions), Krka generated EUR 9.87m (or 44%), followed by NLB Group with EUR 3.6m (or 16%). Next comes Petrol with EUR 1.9m (or 8.5%), Triglav with 1.2m (or 5.7%), and Luka Koper with 1.1m (or 5.1%). These 5 shares have generated 79.3% of the turnover that was recorded by the entire (equity) market.
When looking at the total equity market capitalization, it observed a 0.7% MoM increase and currently stands at 8.93bn. October has shown the continuation of growth on the LJSE, with SBITOP increasing by 1.05% MoM (ending October at 1,178.89 points). At the end of the month, most of the blue-chip companies have remained at levels similar to the previous month, with the only notable exception being Luka Koper with an increase of 7.5% MoM. On the flip side, the index heavyweight Krka ended the month with a slight decrease of -0.4%. We also note that, as of the end of October, SBITOP is up by as much as 30.1% YTD.
Performance of SBITOP Constituents in October 2021 (%)
In October, the average daily turnover reached EUR 2.05m, noting an increase of 119% YoY.
Zagreb Stock Exchange (ZSE) has published its trading statistics for October 2021, showing an average daily equity turnover of EUR 2m. This represents an increase of 119% YoY.
Out of the total value traded (excluding block transactions) in October, HT generated 14% of the total equity traded on ZSE. Podravka generated 13% of total turnover, followed by Atlantska Plovidba and Valamar Riviera, each generating 11%. Ericsson NT comes next with a 6% out of total turnover. The top five traded companies accounted for 54% of the total value traded.
It’s important to mention that block trades in both observed period make around 37% of total equity turnover.
October market also the 1st month of trading for Span on ZSE and Company managed to make up to 2% of total turnover on ZSE.
The main index of ZSE, CROBEX continued its positive sentiment, breaching the 2,000 point mark with YTD of 15.2%.