Based on a gross dividend of RON0.2522 per unit and a trading price of RON8 per share, the dividend yield reaches 3.15%.
The dividend payment will be made on May 21, 2024, the company said in a press statement.
“For 2024, Connections estimates total revenues of 122 million lei, representing an accelerated growth of 49% compared to the budgeted amount for 2023, and a net profit of 8.8 million lei (a 57% increase compared to the budgeted amount for 2023), with a focus on EBITDA growth”, according to company representatives.
Connections is banking on revenue growth in the Software Development division, driven both by the development of substantial projects in the public sector and by expanding its portfolio of specialized solutions. The division is expected to achieve an estimated average compound growth of 60%, while the Service Delivery line is projected to see a 3% growth, remaining a significant source of revenue and a strategic pillar for Connections.
“The primary target for the current year is private sector companies, aiming to ensure a balanced portfolio of clients and profitability growth that generates increased value for investors”.
“2023 was the best year in the company’s history, with significant surpassing of all initially estimated results. Triple-digit growth has brought us large-scale projects, which we currently have in progress, and have confirmed Connections’ capabilities and relevance in the public sector digitization category in Romania. We continue to grow at a sustainable pace to ensure healthy and balanced development, with a focus in 2024 on the development of our software development and technology integration line. The main contributors to this year’s revenue are the Service Delivery and Software Development & Outsourcing divisions, with estimated revenues of 35 million lei and 87 million lei, respectively,” says Bogdan Florea, Founder & Co-CEO of Connections.
CC shares have gained 40.4% so far in 2024 and 97.3% in the last 12 months, triggering a market value of RON105 million. The company is held by its founder and co-CEO, Bogdan Florea, with an ownership stake of 67.4%.