NIS highest since June after the company pays record dividend

The payout of dividends by the Petroleum Industry of Serbia (NIIS) and Impol Seval (IMPL) increased turnover on the Belgrade Stock Exchange, raising the stock market to the highest level since the beginning of June. The total turnover amounted to RSD 186.6m (EUR 1.6m), while the index of the most liquid shares, Belex15, jumped 4.4% to 892 points.

NIS jumped 2.1% to RSD 728 with an increased turnover of RSD 21.1m. The increased investor activity came as the company paid a dividend from last year’s profit on Thursday, contributing to significantly higher turnover at the end of the week. This year, NIS shareholders received a gross dividend per share of RSD 143.3, a record payment in the company’s history. After the announcement of poor Q2 results, the stock fell below RSD 690 and has recovered since the beginning of August on low turnover.

The shares in Dunav Osiguranje (DNOS) probably benefited from the increased liquidity in the domestic market. The stock again reached RSD 1,000, jumping 6.5% in the week. The total turnover amounted to RSD 5.3m.

Impol Seval, which also paid a record dividend last week, rose slightly to RSD 6,136 with a turnover of RSD 1.6m. Shareholders of the company received a dividend per share of RSD 871.6 this year, up 40%, after the company posted the highest profit in its history in 2022 of RSD 2.8bn.

Messer Tehnogas (TGAS) also contributed to the growth of the stock market, returning to RSD 15,000 with light trading value, as well as the shares of Sevojno-based Jedinstvo (JESV) and Belgrade Airport (AERO), which jumped 4.4 and 4.2% percent, respectively.

WEEKLY REPORT, August 21-25, 2023