You mentioned: "Capital returns began in 2016, with a dividend of 6 PLN million and a similar-sized share buyback."
Has the CEO or press releases mentioned any dividend for 2023-2024?...it appears neither buybacks nor dividends have occurred from 2021 to 2023 present date.
CEO has staited certain goals for the core business for dividend to return (I think concistent margin above 10% or something). But currently there is a buyback in place adn they have been buying buck stock last month. (check bankier.pl). Also during covid they had a government loan that prohibited capital returns so no surprise there where no returns durring that period. You can check my update post as well for current capital allocation. Just to note, since the write-up they have bought another business as well for just 8m PLN that did roughly 150m in revenue.
A potential red flag could be lending out money, at an interest rate which is probably not considered high in Poland, given thaty it is not a financial company....?
You mentioned: "Capital returns began in 2016, with a dividend of 6 PLN million and a similar-sized share buyback."
Has the CEO or press releases mentioned any dividend for 2023-2024?...it appears neither buybacks nor dividends have occurred from 2021 to 2023 present date.
CEO has staited certain goals for the core business for dividend to return (I think concistent margin above 10% or something). But currently there is a buyback in place adn they have been buying buck stock last month. (check bankier.pl). Also during covid they had a government loan that prohibited capital returns so no surprise there where no returns durring that period. You can check my update post as well for current capital allocation. Just to note, since the write-up they have bought another business as well for just 8m PLN that did roughly 150m in revenue.
A potential red flag could be lending out money, at an interest rate which is probably not considered high in Poland, given thaty it is not a financial company....?