Investors still have time to get one of the most profitable payouts on the Spanish stock exchange in a single distribution. Neinor Homes will distribute the next On October 15, gross cash of 0.50 euros, which at current prices offers a profitability of 3.3%. The way in which this payment will be made will be by reducing the par value of the company’s shares by the same amount and to benefit from this, the shareholder must have his securities in his portfolio before October 10.
This is the second tranche of a total dividend of 75 million, the first payment of which was made on July 31, so on this occasion the distribution between shareholders will be 37.5 million. Payment will be made through a capital reduction with return of contributions to shareholders, according to the same structure proposed in recent years. Therefore, they will be subject to a tax of 1% on the value of the contributions returned, which Neinor Homes will retain, self-liquidate and pay to the Foral Treasury of Biscay.
Neinor’s objectives in terms of shareholder remuneration are ambitious: by 2024, the company plans to distribute a total of 200 million euros and by 2025 an additional 125 million. Profitability in 2024 would amount to 19%, which makes Neinor Homes the most profitable dividend in the entire Spanish stock market, by far.
Imputed to profits generated in 2024, the company listed on the continuous market would distribute 2.50 euros for each security held in its portfolio, according to estimates collected by FactSet. This means increasing the remuneration of its shareholders by 150% in relation to the euro distributed compared to 2023. Estimates predict, however, that after this very high dividend, the following will decrease slightly in the years to come, reaching 1.83 euros per share charged until 2025 and 0.93 euros in 2026.
On September 23, 2024, Neinor Homes announced the signing of an agreement with Merak IMS (a company controlled by the Bain Capital funds) for the acquisition of 10% of the capital of Habitat for an approximate amount of 31 million euros. Renta 4 indicates in this sense that the Habitat operation gives the company greater operational and dividend visibility. “Neinor estimates that the agreement with Habitat will generate approximately 10 to 15 million euros in annual commission income (immediate impact on the income statement), also hoping to obtain positive and commercial synergies derived from the increase in the volume of the active land bank With All of this, the company adds even more visibility to its dividend plan, with 290 million euros awaiting distribution in 2024-2025,” argues the firm.
Regarding its evolution on the stock market, Neinor offers one of the highest returns in a single distribution with its stock at levels it has not reached since 2018. Its revaluation in 2024 is almost 57%, and its action goes beyond the appreciation of the consensus of experts that it collects Bloombergwhich gives it an average price target of 14.10 euros (its share is around 15.3 euros). Regarding the recommendation, it also offers the best possible with a sign purchase, and no analysis firm advises selling the promoter’s securities at this time.
