Telematic Interactive Bulgaria is about to become one of the few public companies traded on the Bulgarian Stock Exchange that pay a dividend twice a year, according to an analysis by Infostock.bg. This means more freedom and flexibility for investors. The 2022 dividend was paid after the general meeting at the end of June this year and the second dividend is scheduled to be voted on at the general meeting in mid-December.
Given the high level of inflation, this is an important step that will give investors prematurely available capital that they can direct to cover expenses or for investment purposes. As we all know, a lev in our pocket today is worth much more than a lev received in six months or a year.
The distribution of the second dividend within this year is to be voted at the upcoming extraordinary general meeting of shareholders of Telematic, which will be held on December 19 at Grand Hotel Millennium Sofia.
In accordance with the materials for the general meeting of the company, the draft resolution of the general meeting includes the distribution in the form of a dividend of part of the undistributed profit of the company, namely an amount in the gross amount of BGN 5 184 007.20 (five million one hundred eighty-four thousand and seven levs and twenty cents) or BGN 0.40 (forty cents) per share.
The Company will pay the voted dividend to the shareholders in one lump sum or in tranches within up to 60 days of the shareholders’ general meeting on the terms and conditions as proposed by the Board of Directors (if the resolution is passed).
The analysis adds that, according to Telematic’s consolidated statement, “Retained earnings” amount to BGN 11.15 million (from which the dividend proposed to be voted at the general meeting will be distributed), while the current financial result at the end of nine months (which will most likely be distributed next year) amounts to BGN 17.88 million.
Dividend at the beginning of the year
At the General Meeting of Shareholders of Telematic Interactive Bulgaria AD held on 29 June this year, it was decided to distribute a gross dividend of BGN 12.96 million, or a gross dividend of BGN 1 per share. Based on the stock’s trading price on that date, the dividend yield was 6.3%.
The dividend distributed this year was 57% of the company’s profit for the past year of BGN 22.61 million and above the company’s documentation for the distribution of 40% of the capital in the form of a dividend.
Good news
The good news for Telematic’s shareholders of a projected second dividend payout this year followed the company’s recently released quarterly consolidated report. For the first nine months of the year, the company’s revenue from core business grew 17.6% to BGN 86.4 million compared to BGN 73.5 million in the first nine months of last year.
The increase in revenue was mainly due to a 20.9% increase in casino gaming revenue. In sports betting, after the normal and expected seasonal decline in the summer months with few sporting events, good results are forecast due to the introduction of a new sports betting platform, which happened in the fourth quarter. It has significantly better features and functionalities, which will result in improved quality and options for customers, reinforcing the dynamics in performance.
The catalyst for the increase in revenue was the increased number of average monthly active customers, which reached 90,109 users, an increase of over 22% year-on-year. Year-to-date average revenue per customer is little changed from the same period in 2022, with improved dynamics reported in the last quarter.
Source: Infostock
