FRANKFURT (dpa-AFX) – The prospect of a dividend suddenly made Metro (METRO (St)) shares attractive again on Thursday. In pre-market Tradegate trading, the food wholesaler’s shares gained 4.6 percent compared to the Xetra closing at 6.10 euros.
Metro is setting smaller goals for the new 2023/2024 financial year and, in addition to renewed burdens from the weak Russian ruble, is expecting below-average development in Germany. For investors, however, the only thing that initially counts is the dividend. For the first time in several years, they will probably be able to look forward to a payout again. The group is proposing 55 cents per share for the 2022/2023 financial year.
Given the weak profit forecast, it is difficult to say whether the price will continue to increase during trading, commented a trader. Baader Bank also noted that the high dividend yield is unlikely to be sustainable, as the majority of the dividends are based on one-off gains from the divestment of operations in India.
The Metro shares are likely to recover on Thursday from the record low of 5.78 euros reached the day before. With a current loss of 36 percent since the beginning of the year, they remain among the weakest stocks in the SDAX small cap index./ajx/ag/jha/
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