## What other companies will pay dividends in 2023

- Nov 10

In this article, we will analyze 10 companies that have a high probability of dividend payment in 2023.

### ๐beluga

Beluga is a beneficiary of the departure of Western alcohol suppliers. It is an almost completely vertically integrated company, imported-dependent and oriented to the domestic market.

For the 1st half of the year, 150 rubles per share (profitability-5.5%) were declared. Upon maintaining the growth rate of profit in the 2nd half of the year, the profit may exceed 5.3 billion rubles.

But much depends on the annual Payut Ration. The company pays at least 50%, but can be more from 85 to 150 rubles (profitability-3-5.5%).

### ๐ Seligdar

The only gold miner who approved dividends according to the results of 2021. Payments amounted to 4.5 rubles (profitability - 8.6%).

The last report of the company looks positive, although problems are outlined in the sector.

The important advantages of Seligdara (like the pole) are the low cost of gold production.

There are all prerequisites for payment for 2022. For the 1st half of the year, the profit amounted to 10.7 billion rubles, for the 2nd it would be clearly lower (gold prices were adjusted by 25% of the spring peaks)-about 6-7 billion rubles.

For the 2nd half of the year, you can count on dividends in the amount of 5-7 rubles (profitability-12-17%).

### ๐ Nornikel

The company plays a key role in the global supply chain. It produces 44% of Palladium from the world share and 22% high -grade nickel.

That is why there were no direct sanctions against it, not counting the introduction of 35% of the UK. Pallas and nickel prices remain high.

According to the results of the 1st half of the year, the profit in dollars increased by 18% g/g, and the revenue remained at the same level.

For 2021, dividends were paid in full - 2689 rubles. In 2022, they can be reduced due to the growth of capital costs, costs and tax pressure.

In addition, the agreement between the largest shareholders terminates.

Now dividends can be tied to the flow of free cash, which in the 1st half of the year decreased by 25%. But so far specific decisions have not been made.

Potanin himself stated that dividends would be reviewed. In general, a lot says that there will be payments, but clearly lower than a year earlier.

Most likely, dividends will be at the level of 1000-1500 rubles (profitability-8-12%).

### ๐enenergo

The company's extreme report did not show significant changes in business. But there was a small negative - this is the loss of large customers in the form of automobile concerns and production centers.

The situation with the absorption of the FSK EEC may be embarrassed. The consolidated company most likely concentrates on the investment program (to the detriment of dividends).

But these are just guesses, and in the case of Lenenergo, it is necessary to confirm from the administration of St. Petersburg, since the region is the holder of a blocking package of shares.

The company pays dividends once a year. For ordinary shares for 2021, 0.34 rubles were paid, according to prefs - 21.2 rubles.

The reasons for a significant reduction are slightly, not counting the planned capital costs.

In 2022, dividends can amount to 0.33 rubles per custom (profitability –5.5%) and about 20 rubles (profitability - 16%) on prefs.

### ๐ Kazanorgsintez

An insignificant share of exports (17%) and the absence of direct restrictions on the West made a protective company.

Yes, the EU in the framework of the 8th package of sanctions intends to prohibit the import of products of the Russian chemical industry, but the details are unknown. In addition, there is an active redirection of supplies to Asia.

According to the results of 2021, they paid in the amount of 9.7 rubles per share. And the company does not disclose reporting, so it is quite difficult to make forecasts. Net profit will be exactly higher than in 2021.

Probably, it will be possible to see 11-12 rubles per share (profitability-14-15%).

### ๐ Kuybyshevazot

The company exports the products of the chemical industry - kapropalants (by the way, its deliveries are already mainly to Asia) and nitrogen fertilizers, which do not apply to the EU and the USA.

The last pause in dividends was made in 2020 against the background of pandemia and high costs for investment programs. But for 2021, diva was paid in full (27.4 rubles) and paid intermediate for 2022 (15 rubles).

And according to the results of the 2nd half of 2022, they will probably be paid another 15-20 rubles (profitability-3.8-5%).

Also, upon completion of investment programs (in approximately 2023-2024), we can expect increased increase in payments.

### ๐reus aquaculture

It is a beneficiary from the departure of importers from Chile and Faroe Islands from Russia (previously they covered 80% of all demand in the red fish market). Now the products have risen in price due to the supply deficiency.

Aquaculture is almost a monopolist in Russia. Also, most of its sales falls on Moscow and St. Petersburg. It is planned to expand the geographical base further.

Profit in 2022 and the next years can show multiple pace, but there are no reports yet. Therefore, calculations have to be carried out on the basis of the current market conditions.

For the 2nd half of 2022, dividends of at least 15 rubles must be paid (profitability-2.8%).

### ๐ Bank St. Petersburg

The company canceled the final payments for 2021 for ordinary shares, and for prefs dividends amounted to 0.11 rubles.

But in August, the board of directors surprised the market by the recommendation of dividends for the 1st half of the year in the amount of 11.8 rubles (profitability-12.6%).

This bank is regional, therefore there are no sanctions. Losses on foreign exchange operations are minimal.

And judging by large payments (and, not according to the schedule), or high interest income, or the rest was distributed for 2021.

And although the BSP is not the most reliable payer of dividends, according to indirect data, the bank operates effectively and increases capital. Therefore, it is unlikely to suspend payments.

The size of dividends for the 2nd half of 2022 is almost unrealistic to predict, since there are no financial data. But we can assume a wide range of 5-10 rubles per share (profitability-6-12%).

### ๐Positive Technologies

The company paid first in the spring of 14.4 rubles, and in September - an additional 5.16 rubles (total profitability - 1.9% per annum).

Yes, the profitability, although ridiculous, but the business is stable. The influence of sanctions is not traced.

Revenue over 6 months2022 is growing at a rate of 80-100% g/g. But the margin of net profit sags due to an increase in expenses.

And, if for profit, you can easily make forecasts for further growth, then there are no such clarity for dividends due to the lack of dividend policy.

They can pay, both 20% of net profit and all 100%. In any case, for the Russian market, these dividends are small - from 1 to 3% per annum.

### ๐ TMK

There is practically no export. The company does not depend on imports from unfriendly countries.

Orientation to the oil and gas industry allows you to become a clear beneficiary of a large -scale program for redirecting oil and gas pipeline infrastructure to the east. There is demand and it is provided for the next 2-3 years (at least).

The company has a problem is that it has a high debt load and there is a risk of dividend cancellation.

For the 1st half of the year, 9.6 rubles were paid. For the 2nd half of the year, a comparable amount of 9-10 rubles can be expected (profitability-15%).

For today, thanks for your attention!

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