Upcoming Dividend • May 21
Upcoming dividend of LK₨0.70 per share Eligible shareholders must have bought the stock before 26 May 2026. Payment date: 15 June 2026. Payout ratio is a comfortable 53% and this is well supported by cash flows. Trailing yield: 4.1%. Lower than top quartile of Sri Lankan dividend payers (4.5%). Higher than average of industry peers (3.4%). Reported Earnings • May 16
First quarter 2026 earnings released: EPS: LK₨1.00 (vs LK₨0.45 in 1Q 2025) First quarter 2026 results: EPS: LK₨1.00 (up from LK₨0.45 in 1Q 2025). Revenue: LK₨47.3b (up 9.2% from 1Q 2025). Net income: LK₨9.19b (up 122% from 1Q 2025). Profit margin: 19% (up from 9.5% in 1Q 2025). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 47% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Buy Or Sell Opportunity • May 15
Now 25% overvalued after recent price rise Over the last 90 days, the stock has risen 15% to LK₨37.50. The fair value is estimated to be LK₨30.11, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 11% per annum. Earnings are also forecast to grow by 20% per annum over the same time period. Announcement • May 14
Dialog Axiata PLC to Report Q1, 2026 Results on May 18, 2026 Dialog Axiata PLC announced that they will report Q1, 2026 results on May 18, 2026 Declared Dividend • Apr 01
Dividend increased to LK₨1.50 Dividend of LK₨1.50 is 50% higher than last year. Ex-date: 12th June 2026 Payment date: 2nd July 2026 Dividend yield will be 5.0%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (66% earnings payout ratio) and cash flows (36% cash payout ratio). The dividend has increased by an average of 28% per year over the past 10 years. However, payments have been volatile during that time. EPS is expected to grow by 71% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 31
Dialog Axiata PLC, Annual General Meeting, Jun 11, 2026 Dialog Axiata PLC, Annual General Meeting, Jun 11, 2026. Buy Or Sell Opportunity • Mar 03
Now 24% undervalued Over the last 90 days, the stock has risen 18% to LK₨32.70. The fair value is estimated to be LK₨42.85, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Buy Or Sell Opportunity • Nov 18
Now 22% undervalued Over the last 90 days, the stock has risen 38% to LK₨30.40. The fair value is estimated to be LK₨38.73, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 28% in 2 years. Earnings are forecast to grow by 57% in the next 2 years. Reported Earnings • Nov 15
Third quarter 2025 earnings released: EPS: LK₨0.62 (vs LK₨0.49 in 3Q 2024) Third quarter 2025 results: EPS: LK₨0.62 (up from LK₨0.49 in 3Q 2024). Revenue: LK₨45.7b (up 6.7% from 3Q 2024). Net income: LK₨5.69b (up 27% from 3Q 2024). Profit margin: 13% (up from 11% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 8.6% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 57% per year, which means it is significantly lagging earnings growth. Reported Earnings • Aug 13
Second quarter 2025 earnings released: EPS: LK₨0.55 (vs LK₨0.19 loss in 2Q 2024) Second quarter 2025 results: EPS: LK₨0.55 (up from LK₨0.19 loss in 2Q 2024). Revenue: LK₨44.1b (up 7.7% from 2Q 2024). Net income: LK₨5.07b (up LK₨6.64b from 2Q 2024). Profit margin: 12% (up from net loss in 2Q 2024). The move to profitability was primarily driven by lower expenses. Revenue is forecast to grow 8.5% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 95% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Jun 06
Upcoming dividend of LK₨1.00 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 02 July 2025. Payout ratio is a comfortable 65% and this is well supported by cash flows. Trailing yield: 5.5%. Within top quartile of Sri Lankan dividend payers (5.2%). Higher than average of industry peers (3.6%). Price Target Changed • May 27
Price target increased by 37% to LK₨18.80 Up from LK₨13.73, the current price target is provided by 1 analyst. New target price is 11% above last closing price of LK₨17.00. Stock is up 55% over the past year. The company is forecast to post earnings per share of LK₨2.73 for next year compared to LK₨1.43 last year. Reported Earnings • May 09
First quarter 2025 earnings released: EPS: LK₨0.45 (vs LK₨0.32 in 1Q 2024) First quarter 2025 results: EPS: LK₨0.45 (up from LK₨0.32 in 1Q 2024). Revenue: LK₨43.3b (up 4.2% from 1Q 2024). Net income: LK₨4.13b (up 49% from 1Q 2024). Profit margin: 9.5% (up from 6.7% in 1Q 2024). Over the last 3 years on average, earnings per share has increased by 89% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Declared Dividend • Mar 08
Dividend reduced to LK₨1.00 Dividend of LK₨1.00 is 25% lower than last year. Ex-date: 13th June 2025 Payment date: 2nd July 2025 Dividend yield will be 7.2%, which is higher than the industry average of 3.6%. Sustainability & Growth Dividend is covered by both earnings (70% earnings payout ratio) and cash flows (61% cash payout ratio). The dividend has increased by an average of 13% per year over the past 10 years. However, payments have been volatile during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Mar 06
Dialog Axiata PLC, Annual General Meeting, Jun 12, 2025 Dialog Axiata PLC, Annual General Meeting, Jun 12, 2025. New Risk • Feb 18
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.3% Last year net profit margin: 11% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Earnings have declined by 5.0% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (7.3% net profit margin). Announcement • Jan 23
Dialog Axiata PLC Announces Board and Committee Changes Dialog Axiata PLC announced that pursuant to the resignation of Dr. Hans Wijayasuriya from the Board of Dialog Axiata PLC, the Board of Directors of Dialog via Circular Resolution dated 10 January 2025, approved the appointment of Mr. Vivek Sood, Non-Independent, Non-Executive Director as a member of the following Board Committees, in place of Dr. Hans Wijayasuriya, effective 16 January 2025. Accordingly, the composition of the Board Nomination and Governance Committee, Board Remuneration Committee and Board Investment Committee of the Company will be as follows: BOARD NOMINATION AND GOVERNANCE COMMITTEE: Dr. Sharmini Coorey- Independent, Non-Executive Director- Chairperson; Mr. Visvanathamoorthy Govindasamy- Independent, Non-Executive Director- Member; Mr. Willem Timmermans- Independent, Non-Executive Director- Member; Mr. Vivek Sood- Non-Independent, Non-Executive Director- Member; BOARD REMUNERATION COMMITTEE: Dr. Sharmini Coorey- Independent, Non-Executive Director- Chairperson; Mr. Visvanathamoorthy Govindasamy- Independent, Non-Executive Director- Member; Mr. Vivek Sood- Non-Independent, Non-Executive Director- Member; BOARD INVESTMENT COMMITTEE: Mr. Vivek Sood- Non-Independent, Non-Executive Director- Chairman; Mr. Willem Timmermans- Independent, Non-Executive Director- Member; Mr. Thomas Hundt- Non-Independent, Non-Executive Director- Member; Mr. Randeep Singh Sekhon- Non-Independent, Non-Executive Director - Member. Valuation Update With 7 Day Price Move • Jan 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to LK₨13.50, the stock trades at a trailing P/E ratio of 11.3x. Average forward P/E is 15x in the Wireless Telecom industry in Asia. Total returns to shareholders of 54% over the past three years. Board Change • Dec 13
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Vish Govindasamy was the last director to join the board, commencing their role in 2024. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 13
New major risk - Revenue and earnings growth Earnings have declined by 9.7% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 104% Cash payout ratio: 117% Earnings have declined by 9.7% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (12% increase in shares outstanding). Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: LK₨0.49 (vs LK₨0.37 in 3Q 2023) Third quarter 2024 results: EPS: LK₨0.49 (up from LK₨0.37 in 3Q 2023). Revenue: LK₨42.8b (down 8.3% from 3Q 2023). Net income: LK₨4.50b (up 47% from 3Q 2023). Profit margin: 11% (up from 6.6% in 3Q 2023). The increase in margin was driven by lower expenses. Revenue is forecast to grow 3.7% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • Oct 15
Now 21% overvalued after recent price rise Over the last 90 days, the stock has risen 9.6% to LK₨10.30. The fair value is estimated to be LK₨8.51, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has grown by 7.9%. Revenue is forecast to grow by 3.8% in 2 years. Earnings are forecast to grow by 168% in the next 2 years. Announcement • Oct 03
Dialog Axiata Appoints Vish Govindasamy as Independent, Non-Executive Director Dialog Axiata PLC announced the appointment of Vish Govindasamy to its Board as an Independent, Non-Executive Director, effective 1 October 2024. Govindasamy currently serves as an Executive, Non-Independent Director at both Sunshine Holdings PLC and Watawala Plantations PLC. At Sunshine Holdings PLC, he holds the role of Deputy Chairman and serves in Boards of several subsidiaries of Sunshine Holdings PLC and Watawala Plantations PLC. Furthermore, he serves as an Independent, Non-Executive Director at Softlogic Life Insurance PLC, TAL Lanka Hotels PLC, United Motors Lanka PLC, and the 1990 Suwa Seriya Foundation. Beyond the corporate sector, Govindasamy has made significant contributions to Sri Lanka's economy. He is a member of the Governing Board of the Central Bank of Sri Lanka and has served as the Immediate Past Chairman of the Ceylon Chamber of Commerce, as well as a former Chairman of the Employers Federation of Ceylon. Govindasamy holds an MBA and a Bachelor of Science in Electrical Engineering from the University of Hartford, USA. Additionally, he is a Fellow of the Institute of Certified Professional Managers in Sri Lanka. New Risk • Aug 13
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. Payout ratio: 118% Cash payout ratio: 170% Dividend yield: 14% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain 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 Risks Interest payments are not well covered by earnings (2.8x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 118% Cash payout ratio: 170% Reported Earnings • Aug 13
Second quarter 2024 earnings released: LK₨0.19 loss per share (vs LK₨0.38 profit in 2Q 2023) Second quarter 2024 results: LK₨0.19 loss per share (down from LK₨0.38 profit in 2Q 2023). Revenue: LK₨41.0b (down 14% from 2Q 2023). Net loss: LK₨1.57b (down 151% from profit in 2Q 2023). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Jun 28
Dialog Axiata PLC (COSE:DIAL.N0000) completed the acquisition of Bharti Airtel Lanka Private Limited from Bharti Airtel Limited (BSE:532454). Dialog Axiata PLC (COSE:DIAL.N0000) entered into a binding term sheet to acquire Bharti Airtel Lanka Private Limited from Bharti Airtel Limited (BSE:532454) on May 2, 2023. Under the terms, Dialog will issue new shares upon completion of the transaction. Dialog will issue its ordinary voting to Bharti Airtel which will amount to 10.355% of the total issued shares of Dialog by way of a share swap. The operation of Bharti Airtel Lanka will be combined with Dialog. The proposed transaction is subject to signing of definitive agreements and necessary closing conditions including applicable regulatory and shareholder approvals. The transaction is subject to the approval of Dialogs shareholders. The deal is also yet to receive approval from Colombo Stock Exchange and other applicable legal, corporate and regulatory compliance procedures. The Telecommunications Regulatory Commission of Sri Lanka (TRCSL) has granted its approval for the proposed merger. As on April 18, 2024 Dialog Axiata PLC entered into a definitive agreement to acquire Bharti Airtel Lanka Private Limited from Bharti Airtel Limited.
Dialog Axiata PLC (COSE:DIAL.N0000) completed the acquisition of Bharti Airtel Lanka Private Limited from Bharti Airtel Limited (BSE:532454) on June 26, 2024. Upon completion of the transaction, Dialog holds 100% shareholding of Airtel Lanka and Bharti Airtel holds 10.355% shareholding of Dialog. Upcoming Dividend • Jun 07
Upcoming dividend of LK₨1.34 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 05 July 2024. Trailing yield: 12%. Within top quartile of Sri Lankan dividend payers (8.2%). Higher than average of industry peers (3.8%). Reported Earnings • May 09
First quarter 2024 earnings released: EPS: LK₨0.34 (vs LK₨1.05 in 1Q 2023) First quarter 2024 results: EPS: LK₨0.34 (down from LK₨1.05 in 1Q 2023). Revenue: LK₨43.2b (down 14% from 1Q 2023). Net income: LK₨2.77b (down 68% from 1Q 2023). Profit margin: 6.4% (down from 17% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 2.0% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Announcement • Feb 22
Dialog Axiata PLC, Annual General Meeting, Jun 13, 2024 Dialog Axiata PLC, Annual General Meeting, Jun 13, 2024. Agenda: To approve Final dividend for 2023. New Risk • Feb 20
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.1x net interest cover). Earnings are forecast to decline by an average of 7.5% per year for the foreseeable future. High level of non-cash earnings (33% accrual ratio). Major Estimate Revision • Dec 05
Consensus EPS estimates increase by 47% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from LK₨0.945 to LK₨1.39. Revenue forecast steady at LK₨189.3b. Net income forecast to grow 87% next year vs 7.2% growth forecast for Wireless Telecom industry in Sri Lanka. Consensus price target broadly unchanged at LK₨13.57. Share price was steady at LK₨9.10 over the past week. Reported Earnings • Nov 14
Third quarter 2023 earnings released: EPS: LK₨0.37 (vs LK₨0.40 in 3Q 2022) Third quarter 2023 results: EPS: LK₨0.37 (down from LK₨0.40 in 3Q 2022). Revenue: LK₨46.7b (up 2.3% from 3Q 2022). Net income: LK₨3.06b (down 5.6% from 3Q 2022). Profit margin: 6.6% (down from 7.1% in 3Q 2022). Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 55 percentage points per year, which is a significant difference in performance. New Risk • Aug 11
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 0.5x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (0.5x net interest cover). High level of non-cash earnings (32% accrual ratio). Reported Earnings • Aug 11
Second quarter 2023 earnings released: EPS: LK₨4.47 (vs LK₨1.53 loss in 2Q 2022) Second quarter 2023 results: EPS: LK₨4.47 (up from LK₨1.53 loss in 2Q 2022). Revenue: LK₨47.7b (up 10% from 2Q 2022). Net income: LK₨3.10b (up LK₨15.6b from 2Q 2022). Profit margin: 6.5% (up from net loss in 2Q 2022). Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 77 percentage points per year, which is a significant difference in performance. Buying Opportunity • Aug 11
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be LK₨15.13, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 19% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 14% in 2 years. Earnings is forecast to grow by 123% in the next 2 years. Announcement • May 18
Dialog Axiata PLC Announces Demise of Azwan Khan Osman Khan, Non-Independent, Non-Executive Director The Board of Directors of Dialog Axiata PLC announced the untimely demise of Mr. Azwan Khan Osman Khan, Non-Independent, Non-Executive Director of Dialog, on 13 May 2023. Announcement • May 17
Dialog Axiata PLC, Annual General Meeting, Jun 07, 2023 Dialog Axiata PLC, Annual General Meeting, Jun 07, 2023, at 16:00 Indian Standard Time. Location: NO. 475, UNION PLACE Colombo 2 Sri Lanka Price Target Changed • May 15
Price target increased by 10% to LK₨14.70 Up from LK₨13.33, the current price target is an average from 3 analysts. New target price is 50% above last closing price of LK₨9.80. Stock is down 2.0% over the past year. The company is forecast to post earnings per share of LK₨1.98 next year compared to a net loss per share of LK₨4.06 last year. Reported Earnings • May 13
First quarter 2023 earnings released: EPS: LK₨1.05 (vs LK₨1.93 loss in 1Q 2022) First quarter 2023 results: EPS: LK₨1.05 (up from LK₨1.93 loss in 1Q 2022). Revenue: LK₨50.1b (up 31% from 1Q 2022). Net income: LK₨8.69b (up LK₨24.5b from 1Q 2022). Profit margin: 17% (up from net loss in 1Q 2022). The move to profitability was primarily driven by higher revenue. Revenue is forecast to grow 8.1% p.a. on average during the next 3 years, compared to a 5.5% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 92 percentage points per year, which is a significant difference in performance. Reported Earnings • Nov 18
Third quarter 2022 earnings released: EPS: LK₨0.40 (vs LK₨0.66 in 3Q 2021) Third quarter 2022 results: EPS: LK₨0.40 (down from LK₨0.66 in 3Q 2021). Revenue: LK₨45.6b (up 24% from 3Q 2021). Net income: LK₨3.24b (down 40% from 3Q 2021). Profit margin: 7.1% (down from 15% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Wireless Telecom industry in Asia. Over the last 3 years on average, earnings per share has fallen by 56% per year but the company’s share price has only fallen by 14% per year, which means it has not declined as severely as earnings. Board Change • Nov 16
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Sharmini Coorey was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Nov 07
Dialog Axiata PLC to Report Q3, 2022 Results on Nov 15, 2022 Dialog Axiata PLC announced that they will report Q3, 2022 results on Nov 15, 2022 Board Change • Nov 02
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Non-Executive Director Sharmini Coorey was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 19
Dialog Axiata PLC Appoints Sharmini Coorey as an Independent, Non-Executive Director on the Board Dialog Axiata PLC announced the appointment of Dr. Sharmini Coorey as an independent, non-executive director on the board, with effect from October 15, 2022. Dr. Coorey is a former senior official of the International Monetary Fund (IMF) and currently a member of the Presidential Advisory Group on Multilateral Engagement and Debt Sustainability, advising the Government of Sri Lanka during the economic crisis. She joined the IMF through the Economist Programme in 1986 and during her 35-year career at the IMF, worked in positions of increasing seniority in its African, Asia, Pacific, European and Western Hemisphere departments as well as its Strategy, Policy and Review Department. Prior to her retirement in October 2021, Dr. Coorey served as Director of the Institute for Capacity Development (ICD) for almost nine years. She was instrumental in establishing ICD, the IMF's department for capacity building and was key in providing strategic direction for the governance, management and funding of the IMF's capacity She also oversaw the IMF's training for country officials worldwide, including establishing its online program, which trained over 100,000 government officials in policy-oriented macroeconomics during her tenure. Before heading ICD, Dr. Coorey was Deputy Director in the IMF's African Department (AFR), where she oversaw the IMF's work in a number of countries, including South Africa, Botswana and Zimbabwe. In addition, she led AFR's financial sector work and research agenda. Dr. Coorey's experience at the IMF also includes surveillance work on the United Kingdom, Ireland, the United States and Canada as well as programme work on Korea, Estonia, Mexico and the Dominican Republic. She served on the Investment Committee of the IMF Staff Retirement Plan and on the Editorial Committee of IMF Staff Papers. She was also a visiting researcher at George Washington University's Elliott School for International Affairs in Washington DC. Dr. Coorey holds Ph.D. and bachelor's degrees in Economics from Harvard University. She has published papers on inflation and economic growth in transition and developing countries and edited a book on managing the oil wealth of the CEMAC region. Price Target Changed • Aug 30
Price target decreased to LK₨13.33 Down from LK₨14.67, the current price target is an average from 2 analysts. New target price is 63% above last closing price of LK₨8.20. Stock is down 25% over the past year. The company is forecast to post a net loss per share of LK₨0.97 compared to earnings per share of LK₨2.08 last year. Reported Earnings • Aug 10
Second quarter 2022 earnings released: LK₨1.53 loss per share (vs LK₨0.56 profit in 2Q 2021) Second quarter 2022 results: LK₨1.53 loss per share (down from LK₨0.56 profit in 2Q 2021). Revenue: LK₨43.3b (up 24% from 2Q 2021). Net loss: LK₨12.5b (down 371% from profit in 2Q 2021). Over the next year, revenue is forecast to grow 6.7%, compared to a 5.2% growth forecast for the industry in Sri Lanka. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 6% per year, which means it has not declined as severely as earnings. Announcement • Jun 25
Dialog Axiata plc Announces Re-Designation of Willem Timmermans as an Independent Non-Executive Director The Board of Directors of Dialog Axiata PLC, made a determination that Non-Independent, Non-Executive Director, Mr. Willem Timmermans, be re-designated as an Independent, Non-Executive Director of Dialog Axiata, effective 22 June 2022. Mr. Timmermans was appointed to Dialog Axiata's Board in May 2017 as Axiata Group Berhad's (Axiata) Nominee Director. The re-designation of Mr. Timmermans follows the passage of over 4 years since Mr. Timmermans leaving the employment of the Axiata Group. The Board of Dialog Axiata recognised that, given the passage of the afore referenced period, Mr. Timmermans is independent of management and is free from any business or other relationship with the Dialog Group and the Axiata Group which could interfere with the exercise his independent judgment or the ability to act in the best interest of Dialog Axiata and therefore his representation going forward could be considered independent of the major shareholder, Axiata Group. Announcement • Jun 24
Dialog Axiata plc Announces Retirement of Mohamed Muhsin, Independent, Non-Executive Director Dialog Axiata PLC announced that Mr. Mohamed Muhsin, Independent, Non-Executive Director of Dialog Axiata PLC retired from the Board of Directors of Dialog Axiata in terms of Section 210 of the Companies Act, effective 21 June 2022. Upcoming Dividend • Jun 15
Upcoming dividend of LK₨1.24 per share Eligible shareholders must have bought the stock before 22 June 2022. Payment date: 12 July 2022. The company is not currently making a profit but it is cash flow positive. Trailing yield: 13%. Within top quartile of Sri Lankan dividend payers (8.9%). Higher than average of industry peers (5.0%). Announcement • Jun 01
Dialog Axiata PLC, Annual General Meeting, Jun 21, 2022 Dialog Axiata PLC, Annual General Meeting, Jun 21, 2022, at 16:00 Indian Standard Time. Agenda: To receive and adopt the Report of the Directors and the Statement of Accounts for the Financial Year ended 31 December 2021 and the Auditors' Report thereon; to declare a final dividend as recommended by the Board of Directors; To re-elect as a Director, Dr. Shridhir Sariputta Hansa Wijayasuriya, who retires by rotation pursuant to Article 102 of the Articles of Association of the Company; to re-elect as a Director, Dato Dr. Nik Ramlah Nik Mahmood, who retires by rotation pursuant to Article 102 of the Articles of Association of the Company; and to consider other matters. Reported Earnings • May 15
First quarter 2022 earnings: EPS and revenues exceed analyst expectations First quarter 2022 results: LK₨1.93 loss per share (down from LK₨0.30 profit in 1Q 2021). Revenue: LK₨38.3b (up 16% from 1Q 2021). Net loss: LK₨15.8b (down LK₨18.3b from profit in 1Q 2021). Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) missed analyst estimates. Over the next year, revenue is forecast to grow 4.4%, compared to a 5.5% growth forecast for the industry in Sri Lanka. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 4% per year. Announcement • May 12
Dialog Axiata PLC to Report Q1, 2022 Results on May 13, 2022 Dialog Axiata PLC announced that they will report Q1, 2022 results on May 13, 2022 Board Change • Mar 29
High number of new directors Independent Non-Executive Director Indrajit Coomaraswamy was the last director to join the board, commencing their role in 2021. Reported Earnings • Feb 14
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: LK₨2.08 (up from LK₨1.48 in FY 2020). Revenue: LK₨141.9b (up 18% from FY 2020). Net income: LK₨17.1b (up 42% from FY 2020). Profit margin: 12% (up from 10.0% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.4%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Over the next year, revenue is forecast to grow 1.2%, compared to a 5.4% growth forecast for the industry in Sri Lanka. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Announcement • Feb 09
Dialog Axiata PLC to Report Q4, 2021 Results on Feb 11, 2022 Dialog Axiata PLC announced that they will report Q4, 2021 results on Feb 11, 2022 Recent Insider Transactions • Jan 22
Independent & Non-Executive Director recently sold LK₨5.7m worth of stock On the 13th of January, Deshamanya Dayalal Amalean sold around 480k shares on-market at roughly LK₨11.90 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of LK₨5.2m more than they bought in the last 12 months. Reported Earnings • Nov 13
Third quarter 2021 earnings released: EPS LK₨0.66 (vs LK₨0.59 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were weaker. Third quarter 2021 results: Revenue: LK₨36.9b (up 21% from 3Q 2020). Net income: LK₨5.41b (up 13% from 3Q 2020). Profit margin: 15% (down from 16% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 06
Second quarter 2021 earnings released: EPS LK₨0.56 (vs LK₨0.28 in 2Q 2020) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: LK₨35.1b (up 25% from 2Q 2020). Net income: LK₨4.62b (up 100% from 2Q 2020). Profit margin: 13% (up from 8.2% in 2Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Price Target Changed • Jul 02
Price target increased to LK₨14.50 Up from LK₨13.40, the current price target is provided by 1 analyst. New target price is 18% above last closing price of LK₨12.30. Stock is up 9.8% over the past year. Upcoming Dividend • Jun 18
Upcoming dividend of LK₨0.74 per share Eligible shareholders must have bought the stock before 25 June 2021. Payment date: 15 July 2021. Trailing yield: 5.6%. Within top quartile of Sri Lankan dividend payers (5.4%). Higher than average of industry peers (3.8%). Recent Insider Transactions • Jun 11
Independent & Non-Executive Director recently sold LK₨125k worth of stock On the 2nd of June, Deshamanya Dayalal Amalean sold around 10k shares on-market at roughly LK₨12.90 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • May 12
First quarter 2021 earnings released: EPS LK₨0.30 (vs LK₨0.18 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: LK₨32.9b (up 12% from 1Q 2020). Net income: LK₨2.45b (up 64% from 1Q 2020). Profit margin: 7.5% (up from 5.1% in 1Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 1% per year whereas the company’s share price has fallen by 4% per year. Is New 90 Day High Low • Mar 12
New 90-day high: LK₨13.10 The company is up 6.0% from its price of LK₨12.40 on 11 December 2020. The Sri Lankan market is up 9.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Wireless Telecom industry, which is up 14% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is LK₨62.85 per share. Reported Earnings • Feb 20
Full year 2020 earnings released: EPS LK₨1.48 (vs LK₨1.32 in FY 2019) The company reported a solid full year result with improved earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: LK₨120.1b (up 2.8% from FY 2019). Net income: LK₨12.0b (up 12% from FY 2019). Profit margin: 10.0% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 3% per year. Analyst Estimate Surprise Post Earnings • Feb 20
Revenue and earnings beat expectations Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 6.7%. Over the next year, revenue is forecast to grow 5.4% while theWireless Telecom industry in Sri Lanka is not expected to grow. Announcement • Feb 16
Dialog Axiata PLC to Report Q4, 2020 Results on Feb 19, 2021 Dialog Axiata PLC announced that they will report Q4, 2020 results on Feb 19, 2021 Announcement • Feb 02
Dialog Axiata PLC Appoints Indrajit Coomaraswamy as Independent Non-Executive Director on the Board Dr. Indrajit Coomaraswamy has been appointed as an Independent Non-Executive Director on the board of Dialog Axiata PLC, with effect from February 1, 2021. Dr. Coomaraswamy has over 40 years of experience in policymaking and providing economic advisory services, on both macroeconomic and structural issues at national and intergovernmental levels. Is New 90 Day High Low • Jan 25
New 90-day high: LK₨13.00 The company is up 19% from its price of LK₨10.90 on 27 October 2020. The Sri Lankan market is up 50% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is LK₨59.76 per share. Is New 90 Day High Low • Jan 06
New 90-day high: LK₨12.70 The company is up 17% from its price of LK₨10.90 on 08 October 2020. The Sri Lankan market is up 26% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is up 8.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is LK₨59.76 per share. Is New 90 Day High Low • Dec 07
New 90-day high: LK₨12.30 The company is up 12% from its price of LK₨11.00 on 08 September 2020. The Sri Lankan market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is up 4.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is LK₨47.90 per share. Is New 90 Day High Low • Nov 12
New 90-day high: LK₨11.80 The company is up 4.0% from its price of LK₨11.30 on 14 August 2020. The Sri Lankan market is up 17% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Wireless Telecom industry, which is down 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is LK₨49.72 per share. Reported Earnings • Nov 12
Third quarter 2020 earnings released: EPS LK₨0.59 The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2020 results: Revenue: LK₨30.5b (up 4.9% from 3Q 2019). Net income: LK₨4.80b (up 225% from 3Q 2019). Profit margin: 16% (up from 5.1% in 3Q 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has only fallen by 2% per year, which means it has not declined as severely as earnings. Announcement • Oct 29
Dialog Axiata PLC to Report Q3, 2020 Results on Nov 11, 2020 Dialog Axiata PLC announced that they will report Q3, 2020 results on Nov 11, 2020 Announcement • Jul 31
Dialog Axiata PLC to Report Q2, 2020 Results on Aug 04, 2020 Dialog Axiata PLC announced that they will report Q2, 2020 results on Aug 04, 2020