Greek Organisation of Football Prognostics SA : GOFPY-US: Dividend Analysis : December 18th, 2017 (record date) : By the numbers : December 19, 2017

Our analysis is based on comparing Greek Organisation of Football Prognostics SA with the following peers – Scientific Games Corporation Class A, Tatts Group Limited, Wynn Resorts, Limited and Six Flags Entertainment Corporation (SGMS-US, TTSLF-US, WYNN-US and SIX-US).

Greek Organisation of Football Prognostics SA’s dividend yield is 10.15 percent and its dividend payout is 184.21 percent. This compares to a peer median dividend yield of 3.88 percent and a payout level of 116.48 percent. This type of dividend performance might make it a good stock for dividend investors. However, the company’s average dividend quality score of 50 out of a possible score of 100, points to some weakness in the sustainability of its robust payout ratio, and makes its less attractive for dividend investors seeking current income.

Dividend Yield
Dividend Quality Score

Dividend Quality Overview

  • Dividend quality trend has not been consistent over the last five years. Dividends were paid during each of these years — of these 2 were high quality, 1 was medium quality and 2 were low quality.
  • The ending cash balance, with a dividend coverage of 1.51x, provides a moderate cushion in case of a significant reduction of cash flows in the future.
Dividend Quality Score Vs Dividend Yield

Quadrant label definitions. Hover to know more

High Score;High Yield, High Score;Low Yield, Low Score;Low Yield, Low Score;High Yield

Dividend Coverage

Over the last twelve months (prior to June 30, 2017), GOFPY-US paid a medium quality dividend.

The source of the company’s cash to support the dividend paid over the last twelve months is operating cash flow (coverage of 0.57x), investing cash flow (coverage of -0.25x), issuance cash flow (coverage of 0.85x) and twelve-month prior cash (coverage of 1.29x), for a total dividend coverage of 2.51x.

GOFPY-US’s issuance cash flow includes outflows from net share buybacks (coverage of -0.03x). Thus, the total coverage including share buybacks is 2.54x, which reflects our assumption that the cash paid for share buybacks is discretionary and could instead be used to pay dividends.

Dividend Coverage by Cash Flow (TTM)

These coverage ratio factors imply that the firm’s net cash inflow from issuance was required (in addition to operating and investment cash) to pay the dividend, which suggests a medium dividend quality.

Dividend History

Item 2012-12-31 2013-12-31 2014-12-31 2015-12-31 2016-12-31 Latest
Dividend Yield (%) 13.07 5.69 3.07 10.92 11.47 10.15
Dividend Payout (%) 45.46 128.85 40.93 131.6 172.01 157.74

A complete list of metrics and analysis is available on the company page.

Company Profile

Greek Organisation of Football Prognostics engages in the operation of numerical lottery, sports and other betting games. It operates through the following segments: Lotteries, Sports Betting, and Instant & Passives. The Sports Betting segment includes fixed-odds sports betting, as well as pool games, for which participants pay a fixed price into a betting pool and make a selection on a particular outcome. The company was founded in 1958 and is headquartered in Peristeri, Greece.

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