Refile: BUZZ-GBL shares eyeing best day in 18 mths after 'surprise' dividend

Groep Brussel Lambert NV

01/08/2024 08:47

(Fixes spelling in headline, adds missing word 'expected' in
bullet 4)
    ** Shares in Groep Brussel Lambert (GBL)  GBLB.BR  rise
about 3% after the Belgian investment holding proposed a 5 euro
dividend per share along with its H1 results
    ** "What surprised us was the management's decision to
payout a dividend ... up 82% year-on-year," KBC Securities says
    ** The broker attributes the exceptional dividend to GBL's
"materially" trimmed Adidas  ADSGn.DE  stake, to 5.1% from 7.6% 
    ** Degroof Petercam echoes these "surprise" comments, adding
that further Adidas stake exit is expected by October, to below
5%
    ** Degroof Petercam adds the company's H1 net asset value of
15.8 billion was roughly flat y/y, and slightly down q/q
    ** GBL sits at the top of Belgium's blue-chip BEL 20 index
 .BFX 
    ** The shares are set of their best day in 18 months if
gains hold

 (Reporting by Marta Frąckowiak)
 ((marta.frackowiak@thomsonreuters.com))