During the first weeks of October, different Spanish companies will distribute part of their profits to their investors, at least that is what the market is predicting, which is counting on Miquel y Costas, Prosegur Cash, Grupo Catalana and BBVA will distribute their dividends between the 1st and the 9th of next month. The yields on these payments would vary from the 0.53% offered by the insurer, compared to current levels, to the 2.4% offered by the bank.
Miquel y Costas and Prosegur Cash will share a calendar according to this forecast, since both will pay their shareholders on October 8. The company that manufactures the special papers used by the main tobacco companies will distribute a gross amount of 0.114 euros per share, which offers a yield of 0.93%.
The Prosegur Cash payment would be the third of the year (the first two were distributed in May and July), and would repeat the same amount as in previous distributions, with a profitability of 1.8%. The company announced that it would make payments of 0.0404 euros gross in four equal installments of 0.0101 euros per share. Thus, Prosegur Cash will allocate a maximum total of 59.99 million euros to the four dividend payments.
Prosegur Cash is currently close to the annual highs reached in July, with a stock market increase of around 3%. Its price has increased in value as the company’s earnings expectations have improved. De Renta 4, in particular, they indicate that Prosegur Cash will experience a sequential improvement that will continue into the second half of the year. “Regarding the year as a whole, we expect a sequential improvement, both in revenue, for which we continue to expect a positive evolution of organic growth, and a greater positive inorganic contribution (India vs Australia), with improved margins, which will increase as the year progresses, as investments in Forex mature, as improvements are seen in the business in Argentina and due to the seasonality of the second half after the transfer of price increases in services,” they explain.
Dividend of Grupo Catalana expected on October 9with a distribution of 0.22 euros which yields 0.53% at current prices. Its share price has appreciated by almost 28% over the year, and has reached the level of 39.45 euros. The consensus which brings together Bloomberg It is expected to increase by a further 26%, to 49.74 euros, over the next 12 months.
According to these forecasts, BBVA’s payment would also share a schedule with Grupo Catalana, and would take place on October 9. The entity will distribute a dividend of 0.225 euros, in addition to the one it already distributed on April 10, of 0.39 euros. Nowprofitability would reach 2.4%, which is one of the highest in a single payment. BBVA’s usual schedule is as follows: it usually pays an interim dividend for the current year in October, and the additional dividend in April of the following year. In total, for the 2023 financial year, the bank has distributed 0.55 euros (the 39 cents from last April plus the 16 cents it had already distributed last October). This figure improves the dividend allocated to 2022 by almost 28% (0.43 euros). The bank’s remuneration policy has established a payment (percentage of annual profit allocated to shareholder remuneration) between 40% and 50%.
