Investors House: Large EUR 1 extra dividend and strategy for 2023 confirmed - Nordea

Investors House announced today that it will propose an extra dividend of EUR 1 (~16% dividend yield) for the EGM on 24 January. After recent asset divestments, Investors House has a cash position of EUR 23m, and EUR 23m of potential loan capacity. Additionally, EUR 2.8m will be used to repay debt and EUR 2.8m to be invested in equity stake in the Kukkula JV in Jyväskylä. This leaves Investors House with EUR 34m of potential investment ammo and in addition, Investors House has authorisation to issue 5m new shares if needed. At the CMD today, Investors House reiterated its 2023 strategy, which aims at a profitability development which enables an increasing dividend. The company will also focus on recurring revenues, which is supported by the fact that service income is now higher than income from property leases. In the coming years, Investors House will focus on development projects on its own or with partners, and on increasing property service business. Furthermore, Investors House will maintain its equity ratio above 45%; in Q3 2021 equity ratio was 49%. Investors House will provide a new guidance for 2022 in conjunction with the Q4 report on 3 March. The CMD does not trigger any estimate changes and we will update our numbers once the EUR 1 extra dividend proposal is approved by the EGM on 24 January.

Länk till analysen i sin helhet: https://research.nordea.com/api/reportfileapi?id=738747