GDEV Inc. announced a special cash dividend of $3.31 per share, payable March 11, 2025, reflecting strong financial performance.
Quiver AI Summary
GDEV Inc. announced a one-time special cash dividend of $3.31 per share, yielding approximately 20%, payable on March 11, 2025, to shareholders of record by March 3, 2025. This dividend, totaling about $60 million, will be drawn from the company's accumulated profits and is part of a broader strategy to optimize its capital structure by reducing excess liquidity while maintaining financial stability. GDEV, which remains debt-free with a cash balance of around $153 million, emphasizes that this is a unique distribution and does not signify a move towards establishing a regular dividend program. CEO Andrey Fadeev affirmed the company's commitment to shareholder value and long-term growth potential.
Potential Positives
- GDEV announced a one-time special cash dividend of $3.31 per share, yielding approximately 20%, which demonstrates strong financial performance and commitment to returning value to shareholders.
- The dividend distribution totals approximately $60 million, funded from the company’s accumulated profits, indicating effective capital management and profitability over recent years.
- The special dividend reflects GDEV's proactive and disciplined capital allocation strategy, optimizing its capital structure while maintaining a strong financial position and remaining debt-free.
- This is the first special dividend declared since GDEV's public listing, highlighting the company's growth and maturity in the market.
Potential Negatives
- The company has announced a one-time special cash dividend, which may indicate limited cash flow and growth opportunities, raising concerns about future sustainability.
- The declaration of the special dividend does not establish a recurring dividend program, suggesting uncertainty about the company's long-term profitability and cash distribution potential.
- The focus on a special dividend may be perceived as prioritizing shareholder returns over strategic reinvestment in growth and innovation, which could weaken the company's market position in the long term.
FAQ
What is the amount of the special cash dividend announced by GDEV Inc.?
GDEV Inc. announced a one-time special cash dividend of $3.31 per share.
When will the special dividend be paid to shareholders?
The special dividend will be payable on March 11, 2025, to shareholders of record as of March 3, 2025.
What is the financial impact of the special dividend for GDEV?
The special dividend totals approximately $60 million and will optimize GDEV’s capital structure by reducing excess liquidity.
Is this special dividend a regular occurrence for GDEV?
No, this special dividend is a one-time distribution and does not establish a recurring dividend program.
How does GDEV plan to support its long-term growth after the dividend?
GDEV will maintain a strong balance sheet, remaining debt-free while investing in long-term growth initiatives.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$GDEV Hedge Fund Activity
We have seen 0 institutional investors add shares of $GDEV stock to their portfolio, and 2 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- MORGAN STANLEY removed 117 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $2,867
- BANK OF AMERICA CORP /DE/ removed 20 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $490
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
LIMASSOL, Cyprus, Feb. 21, 2025 (GLOBE NEWSWIRE) -- GDEV Inc. (Nasdaq: GDEV), an international gaming and entertainment company (“GDEV” or the “Company”), today announced that its Board of Directors has authorized and approved a one-time, nonrecurring special cash dividend of $3.31 per share, representing a yield of approximately 20% based on the volume-weighted average price of the Company’s shares for the last 30 trading days prior to today’s announcement. The special dividend is payable on March 11, 2025, to the Company’s shareholders of record as of the close of business on March 3, 2025.
This one-time special dividend, totaling approximately $60 million, will be funded from GDEV’s accumulated profits over the past few years and represents a portion of the Company’s total cash balance of approximately $153 million
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(as of Q3 2024). The Company expects to release its audited results for the 2024 financial year around the end of the first quarter of 2025.
By distributing a portion of its retained earnings, GDEV better optimizes its capital structure, reducing excess liquidity and providing for a more lean and efficient operating model. This decision reflects the Company’s commitment to disciplined capital allocation and long-term value creation. The Board’s confidence in GDEV’s financial strength underscores its proactive approach to maintaining an optimal balance between stability and growth in the volatile environment. Importantly, this special dividend is a one-time distribution and does not establish a recurring dividend program. It is not anticipated that the GDEV’s Board of Directors will declare any further dividends in the foreseeable future.
GDEV Founder, CEO, and Chairman of the Board of Directors, Andrey Fadeev, stated: “The special dividend is the first in the Company’s history since our public listing. The decision to declare a special dividend underscores our commitment to delivering value to our shareholders while maintaining a strong financial position. Our robust balance sheet enables us to return capital to shareholders without compromising our ability to invest in the Company’s long-term growth. Following this distribution, GDEV will remain debt-free with a substantial cash balance providing financial stability and the continued development of both our existing portfolio and future initiatives.”
About GDEV Inc.
GDEV is a gaming and entertainment holding company, focused on development and growth of its franchise portfolio across various genres and platforms. With a diverse range of subsidiaries including Nexters and Cubic Games, among others, GDEV strives to create games that will inspire and engage millions of players for years to come. Its franchises, such as Hero Wars, Island Hoppers, Pixel Gun 3D and others have accumulated over 550 million installs and $2.5 billion of bookings worldwide. For more information, please visit
www.gdev.inc
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Contacts:
Investor Relations
Roman Safiyulin | Chief Corporate Development Officer
investor@gdev.inc
Cautionary statement regarding forward-looking statements
Certain statements in this press release may constitute “forward-looking statements” for purposes of the federal securities laws. Such statements are based on current expectations that are subject to risks and uncertainties. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements.
The forward-looking statements contained in this press release are based on the Company’s current expectations and beliefs concerning future developments and their potential effects on the Company. There can be no assurance that future developments affecting the Company will be those that the Company has anticipated. Forward-looking statements involve a number of risks, uncertainties (some of which are beyond the Company’s control) or other assumptions. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s 2023 Annual Report on Form 20-F, filed by the Company on April 29, 2024, and other documents filed by the Company from time to time with the SEC. Should one or more of these risks or uncertainties materialize, or should any of the Company’s assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
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Including the investments into high quality liquid securities.
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