Gradus AGM approves BGN 0.022 DPS; intends to increase dividend payout in the autumn (NEUTRAL)
Source: Gradus; FFBH
On Jun 11, Gradus AD’s AGM approved the distribution of BGN 5.4m dividend (DPS of BGN 0.022; 92% payout). When accounting the semi-annual dividend voted in October 2020, the gross dividend yield was 3%. Dividend payment will start on July 26.
Separately, at the AGM the management announced that considering the current high cash generation, it intends to propose higher dividend payout in the fall.