Spring is loaded with payments, in general, and some of them with very attractive returns. Two of them are Atresmedia (the dividend king in Spain, which pays in June) and Merlin Properties, which has just confirmed its May dividend. These two subscriptions are incorporated from Monday to the EcoDividendo portfolio, prepared by elEconomista with the most attractive upcoming payments on the Continuous Market, after the departure of Inditex and Santander, which paid on day 2.
Atresmedia has been left without competition -for the moment- in that of leading the remuneration of the Spanish stock market, with Mediaset in full takeover bid and its dividend cushioned until it resolves its future with the Italian parent company. The chain that owns Antena 3 confirmed a payment of 0.24 euros gross per title that it will distribute on June 22, which rents at current prices close to 6.7%. Atresmedia yields 9.5% from the maximum of April, at 3.98 euros. In order to collect it, it is necessary to have television shares before June 17, the date on which the cut has been set.
In total, Atresmedia will distribute a dividend charged to 2021 of 0.42 euros per share, with a return of 11.7%, and recovers the brightness of pre-pandemic times. The company decided to cancel the payment charged to 2020 as well as the complementary payment of 2019.
On the other hand, Merlin Properties has confirmed this week the payment of 0.25 euros per share as a second payment charged to the 2021 profit, between the complementary 0.022 and another payment charged to the share premium reserve of 0.227 euros for the next May 27. Its return reaches 2.5% at current prices after market correction. The fall of Merlin Properties already reaches 9% from the maximum of the year -which raises the profitability of its payments-, when it touched 10.85 euros in April. The rate hike -already de facto in the US and announced in Europe- is choking reits with exposure to shopping malls, which had had an exceptional start to the year until a couple of weeks ago. And this leaves Merlin on the verge of going negative for the year, with a timid rise of 3%.
In total, the socimi’s dividend charged to last year amounts to 0.4 euros. Now, another payment is already preannounced, which is the most important for Merlin. The socimi will pay an extraordinary payment of 0.67 euros gross during the third quarter of the year, which comes from the sale of Tree to BBVA for 1,987 million euros. It will be charged to the 2022 accounts and is still pending approval by the council (something that, predictably, will happen). This dividend alone yields 6.8%.
play set pieces
Metrovacesa, in the midst of an FCC takeover bid for 24% of its capital, confirmed its May payment (which will be deducted from Carlos Slim’s offer) for 0.6 euros, which yields 8% with the share almost frozen. Payment is due on May 20.
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