GDEV Inc. Declares Special Cash Dividend
GDEV Inc., an international gaming and entertainment company, recently took a significant step in enhancing its shareholder value by announcing a one-time, special cash dividend of $3.31 per share. This announcement was made after the Board of Directors convened to assess the financial health and strategies needed to optimize capital allocation. With this dividend representing a yield of around 20%, based on the recent average market price of the company's shares, it offers an attractive return to investors.
Details of the Special Dividend
The one-time special dividend is expected to amount to approximately $60 million, a strategic use of GDEV's accumulated profits. The funding for this distribution will come from a portion of the company’s substantial cash reserves, which stood at about $153 million as of the end of the third quarter of the previous financial year. The Board of Directors announces that this special dividend will be paid on March 11, 2025, to shareholders who are recorded by the close of business on March 3, 2025.
Capital Structure Optimization
By approving this dividend, GDEV aims to optimize its capital structure, reduce excess liquidity, and promote a more efficient operating model. The decision reflects a strong commitment to capital discipline and underscores the company’s long-term strategic focus. GDEV’s approach aims to balance stability with growth, which is particularly important in the fast-paced gaming industry.
CEO Statement on Shareholder Value
Andrey Fadeev, the Founder and CEO of GDEV, expressed enthusiasm regarding this special dividend, noting that it marks a historic first for GDEV since its public listing. He highlighted that this decision reinforces the commitment to shareholder value while ensuring that the company maintains a robust financial position. He emphasized that with this special payout, GDEV would still remain debt-free and well-equipped to fund future growth initiatives.
About GDEV Inc.
GDEV Inc. is a prominent gaming and entertainment holding company focused on the growth of its franchise portfolio across diverse platforms and genres. The company’s subsidiaries, such as Nexters and Cubic Games, work to develop engaging games that resonate with millions of players globally. Titles like Hero Wars, Island Hoppers, and Pixel Gun 3D have collectively amassed an impressive 550 million installs and $2.5 billion in worldwide bookings, establishing GDEV as a key player in the industry.
Contacts for Investor Relations
For further information, GDEV has made itself accessible through its investor relations contact. Roman Safiyulin, the Chief Corporate Development Officer, can be reached via email at investor@gdev.inc, facilitating direct communication with interested investors.
Frequently Asked Questions
What is the amount of the special cash dividend declared by GDEV?
The special cash dividend is set at $3.31 per share.
When will the special dividend be paid?
The dividend will be paid on March 11, 2025, to shareholders on record as of March 3, 2025.
How much is the total amount allocated for the dividend?
Approximately $60 million has been allocated for this special dividend.
What impact does the dividend have on GDEV's finances?
The dividend allows GDEV to optimize its capital structure while also providing significant returns to shareholders, all while remaining debt-free.
How can investors contact GDEV for more information?
Investors can contact Roman Safiyulin at investor@gdev.inc for inquiries regarding their investments or to seek further information about the company.
