Enhanced Investments - Financial Portal

Согласно дивидендной политике Алросы (март 2021) базой для расчета дивидендов выступает свободный денежный поток (FCF). Коэффициент выплат определяется в зависимости от уровня долговой нагрузки. При отрицательном долге сумма годовых выплат будет выше 100% свободного денежного потока за отчетный период, при отношении "Чистый долг/EBITDA" от 0,0х до 1,0х рекомендуемая сумма годовых дивидендов составит от 70% до 100% от суммы свободного денежного потока за отчетный период, при отношении "Чистый долг/EBITDA" в интервале 1,0х – 1,5х - от 50% до 70% от суммы свободного денежного потока за отчетный период. При этом установлен минимальный уровень дивидендов в размере 50% от чистой прибыли по МСФО за период, если коэффициент "Чистый долг/EBITDA" не превышает 1,5х. Выплата - два раза в год.

Див. политика взята с сайта dohod.ru

ALRS (карточка)	Div on share	Share price	Dividend yield	Amount of shares	RUB to be paid	(RUB)net_income	% to be paid	Target Price	Potential
2018	10.04	86.00	11.7%	7.4 млрд.	73.9 млрд.	90.4 млрд.	81.8%
2019	6.47	66.88	9.7%	7.4 млрд.	47.7 млрд.	62.7 млрд.	76.0%
2020	9.54	130.80	7.3%	7.4 млрд.	70.3 млрд.	32.2 млрд.	100.0%
2021	8.79	66.84	13.2%	7.4 млрд.	64.7 млрд.	91.3 млрд.	70.9%
2023	5.79	68.89	8.4%	7.4 млрд.	42.6 млрд.	106.4 млрд.	40.1%
(E) 2024	3.33	49.83	6.7%	7.4 млрд.	24.5 млрд.	33.3 млрд.	73.8%	27.8	-44.2%

Детали R4 в csv
Детали R7 в csv

Potential calculation 2024

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Rate	Variable	Formula	Meaning
Current stock price	R1		49.83 р.
Amount of shares	R2		7 364.97 млн шт
Average historical % to be paid	R3		73.8%
Predicted value:	R4		33 млрд р.
Intermediate calculations
Predicted sum to be paid	R5	R3 * R4	24 542.35 млн р.
Predicted dividend on share	R6	max(R8, R5 / R2)	3.33 р.
Target historical dividend yield	R7		12.0%
Dividend per share already paid in forecast year	R8		3.33 р.
Result
Expected dividend yield at current price	R9	R6 / R1	+6.7%
Target share price	R10	R6 / R7 + (R6 - R8) / 2	27.77 р.
Growth potential	R11	min(2, R10 / R1 - 1)	-44.3%

Dividend yield dynamics

Site-based reference data закрытия-реестров.рф

2021	DIV
2021-04-28	9.54
2021-08-31	8.79

2023	DIV
2023-08-29	3.77
2023-08-29	3.77

2024	DIV
2024-04-16	2.02
2024-08-27	2.49

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.