Korado - The dividend is dead, long live the dividend! - 3m 2024

At their meeting in June 2023, shareholders voted to increase the dividend back to BGN 0.19 per share (up 90% y/y), resulting in a stock price surge above BGN 5.00 per share. It is worth noting that during 2023, the dividend dropped by 67% as management prioritized reducing parent debt. Consequently, FY23 debt levels reached an 8-year low. The Q1'24 report indicates further progress, with the remaining BGN 2.7m of the parent loan classified as a current liability, potentially making the company debt-free by the end of 2024.