23.12.2021 12:17, BAAGECBA
Detailed information on the Moneta Money Bank dividend.
Dividend of Moneta Money Bank in 2021 from the profit for the years 2020 and 2019
In addition to the merger with the Air Bank Group, the General Meeting of Moneta Money Bank on 20 December also approved the payment of a dividend of CZK 3 per share.
The payout date was set for January 17, 2022.
If you want to receive the dividend, you need to buy Monety shares no later than the day that precedes the so-called ex-date, the first trading day on which the shares are traded without the right to a dividend. A more detailed explanation of the terms associated with the dividend payment can be found in third part our series Dividend Express.
The ex-date falls on December 23 for the Prague Stock Exchange and on December 28 for RM-SYSTEM.
As Moneta’s shares are registered, the bank pays a dividend non-cash to an account at the CDCP. For details on dividend payment and taxation issues, see earlier article.
Dividend Moneta Money Bank in 2022
Moneta Money Bank, together with a plan to merge with the Air Bank Group, announced that it intends to propose a dividend of CZK 7 per share “before corporate settlement and the issuance of new shares” to the General Meeting in April 2022, subject to corporate, regulatory and regulatory restrictions. regulator and is calculated on the basis of the expected net profit for 2021 of at least CZK 3.6 billion ”.
Dividend history of Moneta Money Bank
In the first two years after entering the stock exchange, Moneta’s strong capital position enabled it to pay more than 100% of the net profit generated in 2016 and 2017 on dividends.
In 2019, Moneta switched to a semi-annual dividend payment, so in addition to the dividend from the profit for 2018, it also paid the first part of the dividend from the profit for 2019.
However, in 2020, Monety, along with other banks, had to suspend dividend payments due to regulatory restrictions.
In 2021, it announced its intention to pay a dividend of CZK 3 per share from part of the profit for 2019 and 2020. This dividend reflects the regulatory limits set by the Czech National Bank.
Development of Moneta Money Bank dividends since the stock exchange
The view of Fio banka analyst Jiří Kostka
At the next General Meeting held in April 2022, the shareholders of the MONETA Group will probably decide on the payment of a dividend of CZK 7 per share. However, this is preceded by approval by the CNB, which has so far acted very restrictively on the payment of bank dividends. However, it is very likely that if the payment of the dividend does not fundamentally jeopardize the bank’s capital adequacy, it should not be a problem to pay a share of the profits to shareholders. The MONETA group itself stated that it expects this dividend amount, assuming an expected net profit for 2021 of at least CZK 3.6 billion, which is an achievable goal according to our model. It should be noted that any dividend would be paid before the subscription of new shares (which should start according to the schedule of the planned acquisition of the Air Bank Group in May 2022).
As for future dividends from profits from 2022 to 2026, the MONETA Group presented their possible outlook as part of the planned acquisition. It counts on cost synergies after the acquisition, but at the same time it was developed before the current rise in interest rates, which plays in favor of profitability. Currently, the MONETA Group has issued 511 million shares, while after the subscription of new shares, the final number will be 765.5 million shares.
The table below shows a non-binding indication of dividends per share (assuming 765.5 million shares) from earnings for individual years. Dividends will be paid the following year. MONETA is considering an 80% payout ratio in the indication, which corresponds to the plan from before the co-virus crisis. We present two versions of the outlook, the “original” that the MONETA Group had in its introductory presentations on the acquisition and then the “revised” version – which takes into account the higher profitability of the Air Bank Group due to current interest rate growth according to their November 2021 outlook. is how the CNB will approach the new group consisting of the MONETA and Air Bank groups from the point of view of capital adequacy. If the current capital requirement for the MONETA Group were not increased, the above dividends would seem probable to us.
| Non-binding indication of MONETA group dividends | |||||
|---|---|---|---|---|---|
| CZK per share | 2022 | 2023 | 2024 | 2025 | 2026 |
| original view |
5,5 | 7,5 | 9,1 | 10,0 | 10,3 |
| adjusted view |
6,5 | 8,3 | 9,6 | 10,2 | 10,8 |
More information about dividends
You can find more information about dividends of Czech companies in our overview, general information about dividends in the series Dividend express.
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Source: Moneta, Bloomberg
Jan Tomanek, Fio banka, as
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