The company’s proposal is for a gross dividend of RON1.25 per share, up 25% from 2022. Against the latest trading price of RON56.8/share, the yield reaches 2.2%.
“Digi Communications continues to be a dynamic growth story, and it is particularly gratifying to see our company amongst the top performers on the Bucharest Stock Exchange this year. We see this as a recognition of our strong operational performance and the market’s confidence in our strategic direction. We have an unparalleled opportunity to build a leading European telecom operator out of Romania. Both our core markets, Romania and Spain, continue to grow at an accelerated pace. We are gearing up for the upcoming commercial launches in Portugal and Belgium later this year. With all these important developments poised to drive growth in the coming years, our commitment to generating shareholder value has never been stronger,” stated Serghei Bulgac, CEO of Digi Communications.
Being dedicated to the expansion of the footprint in core markets, Romania and Spain, as well as preparing for the launch of operations in Portugal and Belgium, both estimated for 2024, Digi Communications continued allocation of significant CAPEX towards harnessing growth opportunities.
In 2023, Digi Communications capital expenditures amounted to EUR 730 million, growing and improving network capabilities across all markets. Nonetheless, the company is committed to shareholder value, with its gross dividend value growing at a compound annual growth rate of 24% between 2017 and 2023, reads the company’s report.
In 2023, Digi Communications continued to grow across its entire service portfolio, reaching almost 23.9 million in revenue-generating user agreements (RGUs) as of the 2023 yearend across Romania, Spain, and Italy. This marks a 15% increase compared to 2022.
Digi registered EUR1.7 billion consolidated revenues in 2023, up 13% from 2022. Adjusted EBITDA reached RON591.2 million, up 17%.
Digi shares have added 30% in 2024 and 58% in the past 12 months, amid a RON5.7 billion market value.
(English version by Catalina Apostoiu)