Yara reported an EBITDA (Yara def.) ex special items of USD 558m – in line with our expectations. The board proposed an extraordinary dividend of NOK 18 per share, reflecting the Qafco divestment and to be paid in Q4/20. We have kept our price assumptions unchanged in this update, and consequently, we have only fine-tuned our estimates. We still expect share buy-backs and EO dividends will provide downside support, and we reiterate our BUY rating and TP.
20 Oct 2020
Minor estimate changes, dividends supportive
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Minor estimate changes, dividends supportive
Yara International ASA (YAR:OSL) | 0 0 0.0%
- Published:
20 Oct 2020 -
Author:
Thomas Lorck | Axel Jacobsen -
Pages:
12
Yara reported an EBITDA (Yara def.) ex special items of USD 558m – in line with our expectations. The board proposed an extraordinary dividend of NOK 18 per share, reflecting the Qafco divestment and to be paid in Q4/20. We have kept our price assumptions unchanged in this update, and consequently, we have only fine-tuned our estimates. We still expect share buy-backs and EO dividends will provide downside support, and we reiterate our BUY rating and TP.