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Fluidra Will Increase Its Dividend by More Than 110% With a Payout of 0.85 Euros Per Share
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
dividends
Rhea-AI Summary
Fluidra, a leader in the pool and wellness equipment sector, has proposed a dividend payout of 0.85 euros per share, representing a significant 112% increase from last year. The total payout will reach 166 million euros, subject to shareholder approval on 5 May. This will be distributed in two payments: 0.43 euros on 5 July and 0.42 euros on 3 November. Fluidra reported a 47% sales growth in 2021, reaching 2,187 million euros, and aims for further growth of 12% to 17% in 2022.
Positive
Proposed dividend payout of 0.85 euros per share, indicating strong shareholder value.
112% increase from last year's dividend reflecting positive financial performance.
Sales growth of 47% in 2021 reaching 2,187 million euros.
High cash flow generation with EBITDA of 549 million euros and a 25.1% margin.
Negative
None.
The Board of Directors has agreed to propose for approval at the General Shareholders’ Meeting on 5 May an increase in the payout to 166 million euros
It will be split into two payments: one of 0.43 euros per share on 5 July and another of 0.42 euros on 3 November
BARCELONA, Spain--(BUSINESS WIRE)--
Fluidra, the global leader in the pool and wellness equipment sector, continues generating shareholder value in 2022. The Board of Directors has agreed to propose to the General Shareholders’ Meeting a dividend payout of 0.85 euros per share charged to voluntary reserves. The proposal implies a 49% payout of 2021 Cash EPS, in line with Fluidra’s dividend policy.
The company continues its progressive shareholders remuneration and after a 90% dividend uplift in 2021 with the payment of 0.40 euros per share, the Board of Directors proposes a 112% increase for 2022. The payout will amount to a maximum of 166 million euros and is subject to approval by the General Shareholders’ Meeting to be celebrated on 5 May. If approved, Fluidra will execute a first payment of 0.43 euros per share on 5 July and another of 0.42 euros on 3 November.
This significant rise in the dividend distribution is backed by strong operational performance, high cash flow generation and a healthy balance sheet. Fluidra completed 2021 delivering 47% top line growth reaching 2,187 million euros of sales, and 549 million euros of EBITDA, a 25.1% EBITDA margin, implying 350 bps of margin expansion. In addition, the company continued executing accretive acquisitions, with five deals completed in 2021 for an aggregate amount of 494 million euros, while maintaining the leverage ratio at 1.9x.
“The payment of dividends to our shareholders is one of our hallmarks. The soundness of our business and balance sheet, together with a strong cash flow, allow us to finance initiatives that deliver value to our stakeholders, including both shareholder remuneration and inorganic growth operations”, highlighted Eloi Planes, Fluidra’s Executive President.
Fluidra announced in February its guidance for 2022. The company expects to grow sales between 12% and 17%, with the EBITDA margin standing above 25.5%, with 50 bps or more of margin expansion. The company is also forecasting an increase in Cash EPS of between 10% and 16%.
