He could be described as the… master of dividends on the Athens Stock Exchange. After all, since December 2020, when he took on the grueling role of CEO, he has led shareholders to the fund a total of 11 times (!), having distributed an amount estimated (roughly) at 2.2 billion euros or 6 billion euros. euros/share. The reason, of course, is Ian Karas of OPAP, who just the day before yesterday announced the distribution of an interim dividend of 0.6 euros/share for this year.
The Czech CEO, who is entering his 4th year at the helm of the group, “sees” the strong cash flow generating stable cash, which he consistently returns to shareholders. It is therefore no coincidence that the average dividend yield over the past four years is in the double digits, comfortably exceeding the psychological and critical threshold of 10%.
Only in 2024, for example, did Jan Karas pay out an amount exceeding €1.45/share, as the annual bonus of €0.61 was paid in May, followed by a return of capital of €0.25 in July, while an ex-dividend of €0.60 followed in November. In 2023, there was a cumulative dividend – return of capital, in the amount of €2.05/share, while in 2022 the management rewarded shareholders with a total amount of €1.90/share.
Of course, OPAP’s generous dividend policy predates Yan Karas. However, it is clear that the rewards for shareholders in recent years, thanks to the growth of the national economy and the great prospects of the game, have taken the form of an avalanche, with the Czech CEO sending shareholders to the fund on average about three times a year (2.75x to be exact). And the big beneficiary of this strategy is none other than the main shareholder (controlling 50.1%), the Valea Foundation of the Allwyn Group, which collected the lion’s share.
(The text above is the product of journalistic research and does not constitute an invitation to buy, sell or hold any stock)