Amadeus returns to dividend after third quarter earnings
The technology solutions company for travel companies Amadeus announced on Friday that in 2023 it will once again pay a dividend, charged to the results of 2022, after having suspended it due to the fall in activity resulting from the pandemic.
In a communication to the Comisión Nacional del Mercado de Valores (CNMV), it explains that it plans to resume dividend payments for the 2023 financial year against 2022 results, under the current dividend policy, which provides for a proposed payout of between 40% and 50% of consolidated profit for the year.
The final dividend will be agreed in accordance with the proposed payout determined by the Board of Directors when preparing the 2022 annual accounts, which will then have to be submitted to the General Shareholders’ Meeting in June 2023.
However, Amadeus adds that this policy “could be altered” by factors such as market conditions or forecasts, financial circumstances, business performance, cash requirements and financial debt obligations.
The CEO, Luis Maroto, said in a note that the company has presented this Friday “solid” operating and financial results in all segments, which have strengthened the ebitda and adjusted profit, thereby supporting a solid cash generation.
“We continue to monitor the macroeconomic situation, while remaining focused on our investment programmes to take advantage of growth opportunities as they arise,” it added.
The company made a profit of €561.5m between January and September, compared with a loss of €83m in that period in 2021, although the result is still 41.2% below that of 2019, before the pandemic.
