Tallinna Kaubamaja Gains Most in a Year on Dividend Proposal
AS Tallinna Kaubamaja (TKM1T) rose the most in 13 months in Tallinn trading following a proposal by Estonia’s largest listed retailer to pay an unchanged dividend of 35 euro cents to its shareholders.
The stock gained 24 euro cents, or as much as 4.1 percent, the biggest increase since February 2012. It traded 2.9 percent higher at 6.05 euros at 12:05 p.m. in Tallinn, implying a dividend yield of 5.8 percent. Kaubamaja shares have gained 10.4 percent this year, compared with a 7.8 percent gain for its regional consumer staples peers, according to data compiled by Bloomberg.
Kaubamaja said yesterday it would pay out 14.3 million euros, the same as in 2012, on last year’s net income of 20.9 million euros, according to company proposals to its shareholders’ meeting, to be held on March 28.
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