|NOK per share|
Gjensidige Forsikrin paid a total dividend of 3,200 million NOK last year, for a market capitalization of 65,550 millions. Dividend per share of Gjensidige Forsikrin is 6.40 NOK, and his stock market price 131.10 NOK.
According to the chart below, where dividend yield is displayed, Gjensidige Forsikrin has a dividend yield of 4.88%, which is higher than the amount offered by both the market average and companies from Norway. It is also bigger than average of Financials industry. This high dividend yield might be a sign to worry about the future of the company so deeper analysis is needed.
About the ability of Gjensidige Forsikrin to maintain his current dividend of NOK 6.40 per share, an amount that accounts for 4.88%, we should study its payout ratio both on earnings and on cash-flows (see chart below). Gjensidige Forsikrin payout on ernings is currently 64.91%, which is higher than the market average, and companies of Financials industry, which are 40.24% and 44.22% respectively. Both figures show that Gjensidige Forsikrin can have problems to keep with his present dividend yield.
The payout on earnings should be complemented with the payout on cash flow since it is this latter amount the one which can be distributed to shareholders. Cash flow per share of Gjensidige Forsikrin is NOK 5.02 per share, which is lower than the dividend per share paid by the company of NOK 6.40, so the company does not generate enough cash to maintain his dividend in the future.
The following figure shows payout ratios over earnings and cashflow of Gjensidige Forsikrin, compared againt world market average, Norway companies, Financials industry and Nonlife Insurance sector companies. You might also need to check full financial report of Gjensidige Forsikrin.
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