Upcoming Dividend • Jul 06
Upcoming dividend of د.م2.00 per share Eligible shareholders must have bought the stock before 13 July 2026. Payment date: 22 July 2026. Payout ratio is a comfortable 57% and this is well supported by cash flows. Trailing yield: 3.4%. Lower than top quartile of Moroccan dividend payers (4.7%). Higher than average of industry peers (1.1%). Declared Dividend • May 24
Dividend reduced to د.م2.00 Dividend of د.م2.00 is 11% lower than last year. Ex-date: 13th July 2026 Payment date: 22nd July 2026 Dividend yield will be 3.4%, which is higher than the industry average of 2.9%. Sustainability & Growth Dividend is covered by both earnings (57% earnings payout ratio) and cash flows (45% cash payout ratio). The dividend has increased by an average of 1.6% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has grown by 14% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공고 • May 22
delta holding S.A. announces Annual dividend, payable on July 22, 2026 delta holding S.A. announced Annual dividend of MAD 2.0000 per share payable on July 22, 2026, ex-date on July 13, 2026 and record date on July 10, 2026. New Risk • Apr 26
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (7.2% average weekly change). 공고 • Apr 09
delta holding S.A., Annual General Meeting, May 12, 2026 delta holding S.A., Annual General Meeting, May 12, 2026. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to د.م54.75, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 41x in the Construction industry in Morocco. Total returns to shareholders of 148% over the past three years. Board Change • Feb 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Malika Fezouan was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Dec 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 5.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.6% average weekly change). Board Change • Dec 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 7 non-independent directors. Independent Director Malika Fezouan was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Sep 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Jul 03
Upcoming dividend of د.م2.25 per share Eligible shareholders must have bought the stock before 10 July 2025. Payment date: 21 July 2025. Trailing yield: 2.7%. Lower than top quartile of Moroccan dividend payers (4.1%). Higher than average of industry peers (2.0%). Valuation Update With 7 Day Price Move • Apr 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to د.م90.00, the stock trades at a trailing P/E ratio of 26.7x. Average trailing P/E is 9x in the Construction industry in Africa. Total returns to shareholders of 223% over the past three years. Buy Or Sell Opportunity • Mar 27
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 47% to د.م78.00. The fair value is estimated to be د.م63.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Reported Earnings • Mar 24
Full year 2024 earnings released Full year 2024 results: Revenue: د.م3.19b (up 1.5% from FY 2023). Net income: د.م295.4m (up 56% from FY 2023). Profit margin: 9.3% (up from 6.0% in FY 2023). The increase in margin was primarily driven by lower expenses. Declared Dividend • Mar 23
Dividend increased to د.م2.25 Dividend of د.م2.25 is 50% higher than last year. Ex-date: 10th July 2025 Payment date: 21st July 2025 Dividend yield will be 2.9%, which is about the same as the industry average. Sustainability & Growth Dividend is covered by both earnings (52% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Earnings per share has grown by 24% over the last 3 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. 공고 • Mar 21
delta holding S.A. announces Annual dividend, payable on July 21, 2025 delta holding S.A. announced Annual dividend of MAD 2.2500 per share payable on July 21, 2025, ex-date on July 10, 2025 and record date on July 09, 2025. Board Change • Feb 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Ahmed Lamrini was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Dec 25
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 5 highly experienced directors. 2 independent directors (5 non-independent directors). Independent Non-Executive Director Ahmed Lamrini was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Buy Or Sell Opportunity • Jul 13
Now 23% undervalued Over the last 90 days, the stock has risen 16% to د.م46.50. The fair value is estimated to be د.م60.43, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has grown by 7.6%. Upcoming Dividend • Jul 03
Upcoming dividend of د.م1.50 per share Eligible shareholders must have bought the stock before 10 July 2024. Payment date: 19 July 2024. Payout ratio is a comfortable 70% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of Moroccan dividend payers (4.3%). In line with average of industry peers (3.0%). Buy Or Sell Opportunity • Jul 01
Now 20% undervalued Over the last 90 days, the stock has risen 25% to د.م47.99. The fair value is estimated to be د.م60.06, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 7.4% over the last 3 years. Earnings per share has grown by 7.6%. Valuation Update With 7 Day Price Move • Apr 19
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to د.م47.84, the stock trades at a trailing P/E ratio of 22.2x. Average forward P/E is 13x in the Construction industry in Africa. Total returns to shareholders of 58% over the past three years. 공고 • Apr 11
delta holding S.A., Annual General Meeting, May 16, 2024 delta holding S.A., Annual General Meeting, May 16, 2024. New Risk • Dec 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Moroccan stocks, typically moving 5.4% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported June 2021 fiscal period end). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (5.4% average weekly change). New Risk • Jul 07
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 4.3% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported June 2021 fiscal period end). Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Upcoming Dividend • Jul 04
Upcoming dividend of د.م1.40 per share Eligible shareholders must have bought the stock before 11 July 2023. Payment date: 21 July 2023. The company last paid an ordinary dividend in June 2014. The average dividend yield among industry peers is 2.9%. Upcoming Dividend • Jul 06
Upcoming dividend of د.م1.30 per share Eligible shareholders must have bought the stock before 13 July 2022. Payment date: 22 July 2022. The company last paid an ordinary dividend in August 2011. The average dividend yield among industry peers is 4.0%. Is New 90 Day High Low • Dec 25
New 90-day high: د.م34.00 The company is up 13% from its price of د.م30.21 on 25 September 2020. The Moroccan market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Construction industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 28
New 90-day high: د.م31.99 The company is up 1.0% from its price of د.م31.70 on 24 August 2020. The Moroccan market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is up 10.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day low: د.م29.40 The company is down 10.0% from its price of د.م32.50 on 05 August 2020. The Moroccan market is up 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Construction industry, which is down 7.0% over the same period.