Scor Earnings: Raises the Dividend Back to EUR 1.80 per Share

Scor has delivered EUR 162 million in net income for fourth-quarter 2023 and EUR 812 million over the full year. This is equivalent to EUR 0.91 and EUR 4.54 in EPS. Following these results, the board is proposing to pay a dividend of EUR 1.80 per share, a little lighter than company-compiled consensus of EUR 1.84. This means the dividend is back to prior levels before the cut last year. Scor's shares currently offer a 6.2% yield. The group’s solvency ratio is 209%, within the company’s 185%-220% range. The annual general meeting is being held on May 17 and the proposed dividend ex-date and payment dates are May 21 and 23, respectively. Scor’s results are above our estimates.